The Association of Equipment Manufactures has purchased the data processing and business analytics company Hargrove & Associates in a deal the association said would allow it to better serve members.

The Milwaukee, Wis.-based AEM has been a client of the company since 1989. The purchase will allow AEM to further develop its statistics program, which provides market data to members, the association said in a statement.

"Insights gained by our members through participation in AEM's statistic program give them an advantage in an increasingly competitive global marketplace," AEM CEO Dennis Slater said. "Through investment in HAI (Hargrove & Associates) we look to sharpen this competitive advantage."

Hargrove's other association clients include the Association of Home Appliance Manufacturers and Outdoor Power Equipment Institute. The firm said there should be no changes for other customers after the acquisition.

Terms of the purchase were not disclosed. http://bit.ly/2CvahME

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