Onicon Inc., a Harbour Group company, acquired sensor maker Greyline Instruments Inc. for an undisclosed price.
Greyline, based in Long Sault, Ontario, with a U.S. facility in Massena, New York, designs various technologies, including ultrasonic flow meters and level sensors used in plastic and metal pipes. The company's products measure the Doppler and Transit Time flow of wastewater and sludge.
Bill Robson and Ernie Higginso, co-founders of Greyline, are staying onboard to help the combined companies expand their global footprint.
John Norris, president of Clearwater, Florida-based Onicon, says the deal should help Greyline delivering new products and services, which include industrial clients as well as municipalities
Onicon designs and manufactures flow-metering devices in its own right. They include products are used in water-based heating and cooling systems.
Harbour, headquartered in St. Louis, Missouri, manufactures and distributes boiler systems, kitchen and bath hardware and other products.
The deal underscores what M&A pros are calling a robust manufacturing sector.
"Strategics are buying up competitors and private equity firms are interested as well,” says Christopher Sheeren, a partner with Detroit-based Huron Capital Partners. For more, see U.S. Manufacturing Industry Will Continue to Flourish - one of the 15 trends to track in 2015.