ONICON Inc, a portfolio company of U.S. private equity firm Harbour Group, has acquired Greyline Instruments Inc. No financial terms were disclosed for the transaction. Based in Long Sault, Ontario, Greyline is a designer and manufacturer of ultrasonic flow meters and level sensors. Update: The company’s customers operate primarily in the water, wastewater, environmental, and industrial markets. ONICON, a U.S. flow measurement and hydronic energy business, was purchased by Harbour Group in January 2013.
Harbour Group’s ONICON Acquires Greyline Instruments
ST. LOUIS, Dec. 22, 2014 – ONICON Incorporated, a Harbour Group company, acquired Greyline Instruments, Inc., Jeff Fox, Harbour Group’s chairman and chief executive officer, announced today. Terms of the transaction were not disclosed.
Greyline designs and manufactures ultrasonic flow meters and level sensors that utilize Doppler, transit time, and area velocity technologies. The company’s customers operate primarily in the water, wastewater, environmental, and industrial markets. Greyline was founded by Bill Robson and Ernie Higginson, and is based in Long Sault, Ont., with additional operations in Massena, N.Y.
“Bill’s technical expertise and Ernie’s intense customer orientation coalesced to create a very exciting company that fits extremely well with our long-term vision for ONICON,” Mr. Fox said. “We’re glad that they are staying onboard to help the combined companies accelerate their growth. The opportunity to support strong, founder-owned companies like Greyline and ONICON is a core mission of Harbour Group.”
“Greyline and ONICON are perfectly complementary,” said John Norris, president of ONICON. “Greyline represents exactly the type of people, products, and technology we are seeking to add to our company. We are very excited to welcome the Greyline team and look forward to delivering exceptional new products and services for our customers.”
Mr. Robson, president of Greyline, added, “This is a wonderful opportunity for our employees and customers. Combining our technology with ONICON’s scale and reach is certainly a win-win situation. We’re eager to see what we can achieve as part of the ONICON and Harbour Group family.”
ONICON Incorporated has been in the flow measurement and hydronic energy business since 1987. Headquartered in Largo, Fla., ONICON designs and manufactures a full line of highly accurate flow meters and energy measurement systems. The company provides a wide range of products including turbine, vortex, electromagnetic, thermal mass, and ultrasonic meters as well as BTU meters and display modules. Every product is individually calibrated and all products are delivered fully programmed for the customer’s application.
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 178 companies in 37 different industries.
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Photo courtesy of Greyline Instruments Inc