LN Acquisition Corporation, a Harbour Group company, acquired Reelcraft Industries Inc., Jeff Fox, Harbour Group’s chief executive officer, announced on August 16. Terms of the transaction were not disclosed.
Reelcraft Industries is the world’s largest manufacturer of spring-driven hose, cord and cable reels for use in industrial, automotive, aerospace, military and specialty applications. The company is also widely recognized as the industry leader in product quality, customer service and innovation.
Based in
Fox said, “Reelcraft will join Lincoln Industrial and Alemite within LN Acquisition. All three companies have similar traditions of producing only the highest-quality products and providing unmatched customer service. Adding Reelcraft to the Lincoln and Alemite family of brands further solidifies our market-leading position. Walt and his team are leaders in their industry due to their constant focus on customer service, product design and manufacturing excellence.”
“This is an exciting opportunity for us,” Sterneman said. “We are proud to be affiliated with industry leaders like Lincoln and Alemite, and we know that our customers and employees will continue to enjoy the benefits they had come to know from Reelcraft. We are confident that Harbour Group will to provide the resources, both human and financial, that we need to exceed our customers’ expectations and achieve our strategic objectives.”
Bart Aitken, CEO of LN Acquisition, said, “Reelcraft’s reputation for top-notch quality and its position as the premier reel manufacturer makes it a wonderful addition to our category-leading brands. Lincoln, Alemite and Harbour Group have a tradition of partnering with the strongest teams and companies in the industry and we are committed to building upon Reelcraft’s excellent relationships with its distributors and representatives to provide additional value to our customers. We don’t expect the marketplace to see significant changes; Lincoln, Alemite and Reelcraft will continue to market their products through their respective sales channels and will continue to focus on what has made them successful – doing what is best for the customer and doing it right the first time.”
LN Acquisition designs and manufactures a broad range of automated lubrication systems, dispensing equipment for high-viscosity materials and related products for a variety of industrial, commercial and consumer applications. Based in
Harbour Group, a privately owned company based in
