Continental Materials Acquires InOvate
CMC's Third Acquisition of the Quarter Further Expands HVAC and Building Products Portfolio
Chicago, IL — June 17, 2019 — Continental Materials Corporation (CMC), today announces the acquisition of InOvate Dryer Products, based in Jupiter, Florida.
InOvate is a leading manufacturer of premium, metal, dryer venting accessories used in residential home construction. Founded by Rick Harpenau in 1996, and led by tenured employees James Ortiz and Cliff Budnick, InOvate has grown consistently through supplying quality-engineered, superior products and delivering excellent customer service. Strong brand equity, new innovations, and a dedicated staff resulted in InOvate reporting its record year performance in 2018.
Strengthening the Building Products Portfolio
"The acquisition of InOvate strengthens our position in the building products industry and brings a range of market-leading products to the CMC portfolio. InOvate is another example of an acquisition that fit directly into our strategy to acquire strong family-owned manufacturing companies. We are delighted to welcome Rick, James, Cliff, and the entire InOvate team to CMC."
A Long-Term Home for InOvate
"As I evaluated the best long-term fit for InOvate, CMC distinguished themselves with their long-term hold strategy. From initial meetings to close, they were consistent in providing value and security to my employees and to my family. InOvate has always been a family-owned business and I'm excited it will be joining forces with a holding company with shared values, and operating and strategic resources that will help the InOvate team pursue its full potential."
Looking Ahead
"The common core values that CMC and InOvate share will strengthen us as we continue to grow into the dryer accessory industry. With their support and experience, we plan on expanding both our product portfolio and existing channels."
About Continental Materials Corporation
Founded in 1954, Continental Materials Corporation is a holding company with subsidiaries in heating and cooling manufacturing, building products, commercial door distribution and manufacturing, and aggregates mining and processing. Headquartered in Chicago, IL. Note: CMC rebranded as Riverbend Industries in July 2022.
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