As already stated, it is not installed with the SDK by default. In the tools folder there's a text file called "adb_has_moved.txt" which tells you that you need to launch the SDK and install "Android SDK Platform-tools" to get it. Like chrisz5z said.
It showed the tools to be installed but after I just did a new update that file now appears under /platform-tools
I guess for some reason the original install of the tools did not complete yet still indicated in the SDK that it was installed.
Thanks.