Harbour Group Acquires The Gonzo Corporation

ST. LOUIS, June 19 -- Fluid Enterprises, a subsidiary of Harbour Group, has acquired The Gonzo Corporation, a manufacturer of branded specialty cleaning products, Sam Fox, Harbour Group's Chairman and Chief Executive Officer, announced today. Terms of the transaction were not disclosed.

Founded in 1990, The Gonzo Corporation is based in Canton, Mass. It offers three primary product lines: stain removers, specialty rubber sponges and odor eliminators. The company sells these products through leading retailers, including home centers, mass merchandisers, hardware, and specialty stores.

Gonzo will be part of Harbour Group's Fluid Enterprises group, a leading supplier of specialty consumer and contractor products for household cleaning and texture repair, as well as kitchen, bath and plumbing accessories. The companies in the group -- Homax Products, Magic American, Krusin International, Tile Care Products, and Rhodes American Products -- sell their products to professional painters, decorators and consumers through specialty paint stores, home centers, mass merchandisers and hardware stores.

The acquisition of The Gonzo Corporation will allow Fluid Enterprises to further broaden its product offering of leading brands for the DIY (do-it-yourself) and professional markets, Mr. Fox said. He commented, "Gonzo Corporation has grown significantly in recent years by providing outstanding customer service and innovative products under a premier brand to the cleaning products market. We are very excited to work with management of Gonzo and believe there are significant opportunities for new product introductions, greater penetration into the retail sector, and significant marketing synergies with the other Fluid Enterprises companies."

Stephen Schultz, President of The Gonzo Corporation, said the acquisition by Harbour Group will enable the company to continue to pursue its growth strategy. "This relationship makes sense for both companies," he said. "Gonzo has some of the most recognized products in its market sector. Harbour Group recognized the value of our market leading position and the competitive advantage resulting from our widespread distribution."

Harbour Group is a privately owned company based in St. Louis, Mo. Harbour Group and its related companies are engaged in the manufacture and distribution of industrial products, including high pressure cleaning equipment, auxiliary plastic processing equipment, automotive accessories, hearth and chimney products, textile machinery, pre-engineered building components, industrial springs and fasteners, heat exchange equipment, automotive enthusiast products, entertainment products and products used by the home maintenance industry.