Innovance Acquires Minnesota Industrial Finishing Equipment Maker.
M2 EQUITYBITES-May 6, 2016-Innovance Acquires Minnesota Industrial Finishing Equipment Maker
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6 May 2016 - US-based investment banking firm Quazar Capital Corp.'s client, manufacturer Innovance, Inc., has acquired Minnesota-based centrifugal barrel finishing machines supplier Mass Finishing, Inc, the company said.
Terms of the deal were not disclosed.
Mass Finishing offers 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, Minnesota.
The company said that Mass Finishing brings new dimensions to its current product and service offerings with the addition of high-energy centrifugal barrel finishing systems which will complement its Almco unit's vibratory finishing systems.
Innovance is the holding company for subsidiaries, Lou-Rich, Inc. and Almco, Inc.. Lou-Rich provides contract engineering and manufacturing services. Almco is a manufacturer of industrial deburring, parts washing, and vibratory metal finishing equipment.
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.
Quazar Capital is a Minnesota firm with over 25 years' experience confidentially helping privately held companies with mergers and acquisitions, recapitalizations, and financial advisory services.
The firm specialises in transitioning companies with Revenues of USD 5m - USD 100m and EBITDA of USD 2m - USD 10m.
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|Publication:||M2 EquityBites (EQB)|
|Date:||May 6, 2016|
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