CPS Products Acquires AAB Smart Tools LLC
ST. LOUIS — CPS Products Inc., a Harbour Group company, has acquired the assets of AAB Smart Tools LLC (AAB), Jeff Fox, Harbour Group's chairman and chief executive officer, announced. Terms of the transaction were not disclosed.
Based in Orlando, Florida, AAB develops smart device-connected tools serving the HVAC technician. AAB's current product line includes a dual-port static pressure meter, airflow and environmental meters, temperature and humidity measurement and data loggers, and a variety of useful accessories. A strong pipeline of additional products will reach the market in coming months.
"AAB's innovative products and future developments are a great addition to CPS," Fox said. "We eagerly welcome their product development skills and vision to our team and believe access to the Harbour Group operating resources will assist in future product development and growth."
Scott Madden, AAB's founding partner and product development leader, said, "We are excited to become a part of the CPS platform and to participate in bringing a growing line of new, smart, technology-enabled tools to the market."
"The acquisition of AAB Smart Tools takes CPS into a new product line that will prove beneficial as we continue to build our company both in existing and future end markets," said Paul Baldetti, president, CPS Products. "Scott Madden and his engineering team have created superb products and we look forward to all that we will accomplish together in coming years."