ONICON Incorporated Acquired by Harbour Group

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Jan 07, 2013, 10:00 ET

CLEARWATER, Fla., Jan. 7, 2013 /PRNewswire/ -- ONICON Incorporated was acquired by Harbour Group, Marvin Feldman, the president of ONICON, announced today. Terms of the transaction were not disclosed.

ONICON designs and manufactures highly engineered energy measurement systems and flow- metering devices. These include BTU meters and turbine, electromagnetic, ultrasonic, thermal mass, and vortex flow meters for use in hydronic (water-based) heating/cooling systems as well as water, steam, gas, and compressed air applications. The company provides custom solutions calibrated to specific customer applications, delivering superior accuracy at a competitive price. ONICON was founded in 1987 and is based in Clearwater, Fla.

Mr. Feldman stated, "This is a wonderful opportunity for our valuable customers, exceptional sales rep network, and outstanding employees. I am extremely confident that partnering with Harbour Group and benefitting from their global resources will enable us to fortify our leading position in the HVAC market and enhance our position in additional markets."

"ONICON's proprietary technology enables building controls contractors, controls design engineers, and building owners and operators to address key concerns about energy cost and environmental impact by maximizing the efficiency of their HVAC systems," said Jeff Fox, Harbour Group's chairman and chief executive officer. "We are very impressed with the company's innovative products and the outstanding service it provides to its customers. We look forward to working with the ONICON team and will be supporting their organic and acquisition-related growth efforts with all of Harbour Group's resources."

Harbour Group is a privately owned operating company based in St. Louis, Mo. Harbour Group and its companies are engaged in manufacturing, distribution, and specialty services in multiple industries, including boiler systems, professional diagnostic and repair tools, specialty LED systems, niche distribution, logistics services, decorative kitchen and bath hardware, automotive enthusiast products, abrasives, diamond-cutting products and related tools, entertainment and music products, and auxiliary plastic processing equipment. Since its founding in 1976, Harbour Group has acquired 172 companies in 37 different industries.

SOURCE Harbour Group