The Chicago-based firm Babson Capital provided senior debt to support Harbour Group‘s investment in Onicon, it announced today. Onicon, of Clearwater, Fla., makes energy measurement systems and flow-metering devices. Harbour Group is an operating company in St. Louis, Missouri.

The Minneapolis-based middle market firm Norwest Equity Partners has completed the sale of its ownership interest in Blaine, Minn.-based Lindstrom Metric, a distributor of metric “fasteners” (also known as screws). The buyer: Harbour Group, a St. Louis, Missouri-based operating company. Norwest bought its stake in Lindstrom five years ago. Terms of the sale weren’t disclosed. PRESS [...]

Corporations and other strategic buyers are presenting buyout shops with serious competition in today’s heated market, but they’re also supplying a rich source of exits, according to the Buyouts cover story, published June 20. As of June 13, strategic buyers around the world bought 15,825 companies, including full or partial stakes, with a combined value [...]

Riverside Co. said Monday that it has completed the sale of Hardware Resources, a Bossier City, La.-based maker of cabinet and vanity supplies, to Harbour Group. Financial terms weren’t announced. The deal produced a 24% gross IRR and 3.8x gross on cash-on-cash return, Riverside said. Harbour Group, of St. Louis, is a privately owned company. Riverside Co. is a PE firm. Harris Williams provided financial advice to Hardware Resources.

SKF Group, of Sweeden, has agreed to buy Lincoln Holdings Enterprises for $1 billion cash from Harbour Group. The deal is subject to regulatory approval. St. Louis-based Lincoln supplies lubrication systems, tooks and equipment. Harbour Group, also of St. Louis, is a privately-owned operating company. Robert W. Baird advised Harbour.

Atlantic Street Capital Management today announced the sale of Fleetgistics, an Orlando-based delivery services company, to Harbour Group, a St. Louis private equity firm. The sale, previously reported by peHUB, earned Atlantic Street a 7.7x return and 156.4% IRR on its initial $10.4 million equity investment. Lazard Middle Market and BB&T Capital markets advised the sell side.

The deal marks Atlantic Street’s first exit from a $45 million fund backed solely by Morgan Stanley Alternative Investments. According to Buyouts magazine, the firm is planning to raise a $100 million follow-up fund.

I spoke with Partner Peter Shabecoff on the thesis behind the roll-up, how a $10 million company became a national leader, and why the sale was “painful and bittersweet.

peHUB: So you made 7.7 times your money on a $10 million equity investment. What was the total deal value here? Is it safe to say more than $70 million?

Peter Shabecoff: We aren’t disclosing the total deal value but its safe to say it the value exceeded $70 million.

Atlantic Street Capital Management is in talks to sell Orlando-based delivery services company Fleetgistics to St. Louis-based buyout shop Harbour Group, according to a regulatory filing.

Fleetgistics has three divisions: Medifleet, which provides same-day delivery services to hospitals, laboratories and other medical-related institutions; Partsfleet, which delivers automotive parts and other supplies; and Scriptfleet, which provides delivery services for long-term care pharmacies.

ACS Group, a plastics processing business backed by St. Louis-based private equity firm, Harbour Group, acquired Walton/Stout, Inc., a Lithonia, Ga.-based material handling, blending, crystallizing and drying application business. Terms of the transaction were not disclosed. Press release: ACS Group, a Harbour Group company, acquired Walton/Stout, Inc., Jeff Fox, Harbour Group’s chief executive officer, announced. [...]