News

Stainless Hose Fittings Has Been Acquired by Harbour Group

HOUSTON, TEXAS (February 7, 2020) – Statesman Corporate Finance, LLC (“Statesman”) is pleased to announce that Stainless Hose Fittings, Ltd. (“SHF” and/or the “Company”), has been acquired by an affiliate of Harbour Group (“Harbour Group”). Statesman served as the exclusive financial advisor to SHF throughout the transaction, which closed January 31, 2020.

SHF is a manufacturer of stainless-steel adapters, fluid power fittings, instrumentation fittings, and valves.  As a supplier of repair and maintenance parts to a variety of end markets, including marine, industrial, chemical, and oil and gas, SHF stocks high-quality, hard-to-find parts in metric and imperial sizes.  SHF also manufactures custom parts with short lead times.  The business, which is based in Pasadena, Texas, was founded in 2002 by Michael Chapman, who will continue in his capacity as President.

Mr. Chapman commented, Harbour Group is a great partner to take the business to the next level.  With Harbour Group’s strong operational and industry expertise, specifically in industrial distribution, we are excited for the opportunities that lie ahead. Additionally, the Statesman team was a pleasure to work with and did a great job of canvasing the market, managing the process, and working with us to find exactly the right partner to grow the business.”

About the other transaction participants

Statesman Corporate Finance, LLC is the FINRA-licensed broker dealer affiliate of Statesman Business Advisors, LLC. With offices in Houston and Austin, Texas, Statesman is a leading middle-market investment banking firm providing merger and acquisition, capital formation, valuation and other general corporate financial advisory services to middle-market companies. The Statesman team advising on this engagement was led by Principal Will Jaco, Director Jim Briggs, with support from Vice Presidents Peter Chiu and Jessica Seff and Associate Philip Rodriguez.

Harbour Group is a privately owned, operations focused company based in St. Louis, Missouri.  Harbour Group’s companies are engaged in manufacturing and distribution across diverse industries including stainless hose fittings, condition monitoring devices, machine control solutions, wireless control solutions, fence and gate hardware systems, interior wallcoverings and fabrics, LED lighting, flow control, scientific products and lab ware, thermal management solutions, boiler systems, professional diagnostic and repair tools, and auxiliary plastic processing equipment.  Since its founding in 1976, Harbour Group has acquired 211 companies in 47 different industries.

Chamberlain, Hrdlicka, White, Williams & Aughtry (Houston, TX) provided legal counsel to SHF led by Shareholder Habeeb “Hobbs” Gnaim and Associates Caroline Cho and Nima Farzaneh.

Blank Rome LLP (Washington, DC) provided legal counsel to Harbour Group led by Partner Saminaz Akhter and Associates Nathan Brill and Kendra Merchant.