The Association of Equipment Manufacturers (AEM) has purchased Minneapolis-based Hargrove & Associates, Inc. (HAI) a data processing and business analytics company.
At a time when the innovative use of data is transforming the manufacturing industry, the acquisition allows AEM to enhance and build upon its statistics program to better meet the needs of its membership.
AEM has been an HAI client since 1989. Both organizations believe this is an opportunity to further develop the relationship and the statistics platform.
“This investment is part of our commitment to our strategic plan which includes further developing our statistics program - a benefit of AEM membership,” said Dennis Slater, president of AEM. “Insights gained by our members through participation in AEM’s statistic program give them an advantage in an increasingly competitive global marketplace. Through investment in HAI we look to sharpen this competitive advantage.”
“We are looking forward to how this deepening of our 30-year working relationship with AEM will position both of our groups for exciting growth and technological opportunities while maintaining our strong commitment to the data program so valued by the equipment industry,” said Claire Hargrove, HAI President.
“HAI will operate as a stand-alone subsidiary of AEM in its current Minneapolis office. We foresee no changes to how HAI currently works with its customer base or handling of data,” said Hargrove. “HAI will continue to maintain sole access and handling of company data. AEM staff will not handle or have access to company data.”
In addition to customer care and support, HAI employees will collaborate with AEM on projects using advanced data analytics that will help bring additional value to AEM members.
About the players in this deal
AEM is the Milwaukee-based international trade group representing the off-road equipment manufacturing industry, with more than 950 companies and more than 200 product lines in the agriculture and construction-related sectors worldwide.
For nearly 30 years Hargrove & Associates, Inc. (HAI) has operated market data programs for AEM and other major trade associations. HAI has collected sensitive data from individual manufacturers to create accurate and comprehensive market information. HAI actively engages association and member companies in a process of continuous improvement in the data programs.
Source: Association of Equipment Manufacturers