Innovance, Inc. Acquires Mass Finishing, Inc.
By Business Wire News
By Business Wire News
Quazar Capital Corporation (www.quazarcapital.com) is pleased to announce that their client, Innovance, Inc. has acquired Mass Finishing, Inc, a Howard Lake, Minnesota-based leading supplier of high-energy centrifugal barrel finishing machines, media, compound, supplies, and services. Innovance has acquired all the assets of Mass Finishing, Inc. and is continuing Mass Finishing’s operations out of Howard Lake, MN. Mass Finishing brings new dimensions to Innovance’s current product and service offerings with the addition of high-energy centrifugal barrel finishing systems which will complement Almco’s vibratory finishing systems.
“We are very excited about acquiring Mass Finishing, as it brings new dimensions to our current product and service offerings, and we have acquired a very talented and experienced workforce. This move adds high energy centrifugal barrel finishing systems to our product line-up, which complements our Almco vibratory finishing systems. In addition, it expands our distribution network, and fits nicely within our overall manufacturing capabilities,” said Mike Larson, CEO, Innovance.
Tommy Mathisen, Vice President, Mass Finishing, commented, “I started out by operating the mass finishing division at Timesavers, Inc. in 1987. In 1995, without any knowledge on running a business, my brother Mike and I bought MFI. We worked ambitiously and turned MFI into a profitable and reliable company. Now it’s time to take another step and have a company that is a known leader in the industry take MFI to the next level. We look forward to working with Innovance/Lou Rich/Almco; their experience in sales, service and marketing will make MFI even stronger in the mass finishing industry.”
ABOUT INNOVANCE, INC.
Innovance is a 100% employee owned company (ESOP) and the holding company for subsidiaries, Lou-Rich, Inc. (www.lou-rich.com) and Almco, Inc. (www.almco.com). Lou-Rich provides contract engineering and manufacturing services. Almco is a state-of-the-art manufacturer of industrial deburring, parts washing, and vibratory metal finishing equipment. For more information on Innvoance, Inc., please visit www.innovance.com.
ABOUT MASS FINISHING, INC.
Mass Finishing sells equipment and services to a wide range of market segments around the world including: aerospace, automotive, medical, firearms, and other industrial sectors. For more information on Mass Finishing, Inc., please visit www.massfin.com.
ABOUT QUAZAR CAPITAL CORPORATION
Quazar Capital Corporation is a Minnesota Investment Banking Firm with over 25 years’ experience confidentially helping privately held companies with Mergers and Acquisitions, Recapitalizations, and Financial Advisory Services. Quazar specializes in transitioning companies with Revenues of $5 – $100 million and EBITDA of $2 – $10 million. For more information on Quazar Capital Corporation, please visit www.quazarcapital.com.
No further details are available.