Cleaver-Brooks Inc, a portfolio company of U.S. private equity firm Harbour Group, has acquired Camus Hydronics Ltd, a Canadian designer and manufacturer of hydronic boilers and water heaters for residential, commercial and industrial applications. No financial terms were released. Based in Mississauga, Ontario, Camus sells its products in North America, China and Eastern Europe. Cleaver-Brooks, a maker of condensing hydronic boilers and heaters, said the acquisition will help it to provide a more complete solution to customers. Based in Thomasville, Georgia, Cleaver-Brooks was bought by Harbour Group in December 2012.
Harbour Group’s Cleaver-Brooks Acquires Camus Hydronics
ST. LOUIS, March 18, 2016 /PRNewswire/ — Cleaver-Brooks, Inc., a Harbour Group company, has acquired Camus Hydronics Ltd., Jeff Fox, Harbour Group’s chairman and chief executive officer, announced today. Terms of the transaction were not disclosed.
Since its founding in 2000, Camus has designed and manufactured condensing hydronic boilers and water heaters for the commercial, institutional, large residential and light industrial markets. The company is dedicated to the highest level of service and providing better solutions to the challenges its customers face through continuous product innovation.
Camus’ products are sold in North America, China and Eastern Europe. The business is run by its founders, Mario Ruscio and Cesare Ruscio, and is headquartered in Mississauga, Ontario.
Mr. Fox commented: “Camus’ product line fits extremely well with Cleaver-Brooks product offerings. We are looking forward to bringing Harbour’s operational resources to the company as it continues to grow and expand its product offerings. Mario and Cesare’s support and direction will be integral as we bring the companies together in the marketplace and build a bigger, stronger business.”
“We are excited about what Camus brings to our company,” said Bart Aitken, president and chief executive officer of Cleaver-Brooks. “Camus’ products are positioned in a rapidly expanding segment of our industry. The condensing hydronic products Camus manufactures complement the ones Cleaver-Brooks offers, allowing us to provide a more complete solution to our customers.”
Added Ruscio, Camus’ president: “Cleaver-Brooks’ world class engineering and manufacturing capabilities, supported by Harbour Group’s resources, will be a strong asset for our business.”
About Harbour Group
Harbour Group is a privately owned, operations focused company based in St. Louis, Mo. Harbour Group’s companies are engaged in manufacturing and distribution in multiple industries, including flow and energy measurement, boiler systems, professional diagnostic and repair tools, specialty LED systems, niche distribution, logistics services, decorative kitchen and bath hardware, 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 182 companies in 39 different industries.
Photo courtesy of Camus Hydronics Ltd