Auto Meter Acquires ProPartsJanuary 10, 2012
The addition of ProParts' design resources and its intellectual property will enhance Auto Meter’s ability to develop innovative products for the automotive racing and enthusiast markets.
ST. LOUIS /PRNewswire/ -- Auto Meter Products Inc., a Harbour Group company, has acquired ProParts LLC, Jeff Fox, Harbour Group's Chief Executive Officer, announced. Terms of the transaction were not disclosed.
ProParts designs and manufactures high-performance automotive sensors, controllers, and instrumentation, including the Spek and Spek Pro line of gauges. The company also has an extensive line of gauge-mounting pods and other accessories for automotive enthusiasts, marketed under the ProPod brand name. All of the company's products are designed to deliver high reliability and precision in challenging race environments. ProParts was founded in 2001 by John Sullivan and is based in Baltimore, MD.
"This is an excellent acquisition for Auto Meter," Mr. Fox said. "John and his team built an outstanding business on a foundation of patented instrumentation designs. We expect that the addition of ProParts' design resources and its intellectual property will enhance our ability to develop innovative products for the automotive racing and enthusiast markets. Auto Meter and ProParts products have won a number of Specialty Equipment Marketing Association best-in-class awards over the past few years, and we expect this trend to accelerate."
Mr. Sullivan added, "Our NHRA-approved and NASCAR-accepted product lines have established a solid foothold in the racing community, and we expect our reach to grow significantly with Auto Meter's resources. (The NHRA is the National Hot Rod Association; NASCAR is the National Association for Stock Car Racing.) Auto Meter has a leading presence with race teams and automotive enthusiasts, as demonstrated by the popularity of its products and digital assets like www.winningride.com. Combining those strengths with our intellectual property will further distance the company from the competition."
"ProParts has been an excellent competitor of ours for several years," commented Jeff King, Chief Executive Officer of Auto Meter. "Adding their current patented products, as well as exciting new products in development, will further strengthen Auto Meter's position as the market leader in high-performance instrumentation for race teams and automotive enthusiasts."
About Auto Meter Products
Auto Meter Products Inc. is the "nation's leading provider of automotive aftermarket information systems," including gauges, video recorders, and data telemetry. The company also manufactures a line of professional-grade electrical system and battery testing systems, specifically designed for the newest automotive battery technology. The company is based in Sycamore, IL.
ProParts represents Auto Meter's fourth complementary acquisition since it became a Harbour Group company.
About Harbour Group
Harbour Group is a privately owned company based in St. Louis, Mo. Harbour Group and its operating companies are engaged in manufacturing, distribution, and specialty services in multiple industries, including specialty LED systems, specialty 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 168 companies in 34 different industries.
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