In a significant development in the industrial manufacturing sector, Innovance Inc., a 100% employee-owned holding company, has acquired Jorgensen Conveyor and Filtration Solutions. This acquisition marks a strategic expansion of Innovance’s portfolio, further solidifying its position in the manufacturing and industrial technology landscape.
About Innovance
Innovance, founded in 2004, is known for its focus on innovation and performance. The company’s portfolio includes ALMCO, a manufacturer of industrial finishing and washing systems, Lou-Rich, a contract manufacturer specializing in complex projects, Mass Finishing Inc. (MFI), a creator of high-energy centrifugal barrel polishing and deburring equipment, and Panels Plus, a designer and manufacturer of panelizing equipment for the off-site, modular, and prefabricated building industries.
About Jorgensen Conveyor and Filtration Solutions
Jorgensen Conveyor and Filtration Solutions, based in Mequon, Wisconsin, has been a leading provider of conveyors, coolant filtration systems, material handling equipment, and chip processing equipment for the machine tool, metal working, and other industries for more than 73 years. The company was founded in 1950 by Charles and Evelyn Jorgensen to design, manufacture, and install conveyors for manufacturing applications at major equipment and automotive production facilities.
The Acquisition
The acquisition of Jorgensen Conveyor and Filtration Solutions by Innovance is a strategic move that aligns with Innovance’s goal of building its portfolio with recognized industrial machine OEM companies and brands that complement its strong Lou-Rich contract manufacturing business. This acquisition enables the Jorgensen team to become owners of the business they have helped build.
Impact and Future Prospects
As part of Innovance, Jorgensen joins a family of companies concentrated on industrial manufacturing capabilities and solutions to production challenges. This acquisition is expected to uphold Jorgensen’s commitment to high-quality products, attentive customer service, and an inclusive, employee-centered workplace culture. Furthermore, Innovance will retain all 65 of Jorgensen’s employees, ensuring a seamless transition to employee ownership for the Jorgensen team.
In conclusion, the acquisition of Jorgensen Conveyor and Filtration Solutions by Innovance represents a significant milestone in the industrial manufacturing sector. It not only strengthens Innovance’s position in the market but also promises exciting prospects for the future of both companies.