HARBOUR GROUP INDUSTRIES, INC.

Thesis

Harbour Group Industries, Inc. is a privately owned, operations-focused company founded in 1976 and headquartered in St. Louis, Missouri. It specializes in acquiring and building North American manufacturing and distribution businesses, with a strategy centered on enhancing operational efficiencies, growth strategies, and product development. The firm's investment thesis targets companies with manufacturing or distribution capabilities in sectors like flow control, industrial controls, engineered components, specialty chemicals, and building products. They are particularly interested in opportunities arising from management or generational transitions, or when companies face scalability challenges. Harbour Group employs a hands-on approach, investing in plant and equipment, expanding marketing and distribution, and making complementary acquisitions. They aim to be the 'best-cost producer' through smart operations and high-quality products, benefiting from a permanent capital base that allows for long-term investment without external investor timelines. The firm primarily engages in private equity and related investments, including control transactions, leveraged acquisitions, growth investments, turnarounds, and buyouts. As of December 31, 2024, they manage approximately $405,850,000 in client assets, with a reported total AUM of $448,321,000. Their portfolio spans the United States and New Zealand, focusing on middle-market companies. Since 1976, they have completed over 150 acquisitions, with recent examples including Senproco, Groomerschoice, Americo Chemical Products, DecksDirect, and Nationwide Industries.