Press Release – Ideal Industries, Inc.
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Ideal Industries Named to Inc. 5000 List
Vinton, Iowa – August 15, 2016 – Ideal Industries, Inc., headquartered in Vinton, Iowa, has been named to the 2016 Inc. 5000 list of the fastest growing companies in America.
According to Inc. President and Editor in Chief Eric Schurenberg, on average, the companies who have made the Inc. 5000 have experienced almost five-fold growth over the past three years. With its inclusion on the 2016 list, Ideal Industries joins established brands like Microsoft and Oracle, as well as newer success stories such as Dollar Shave Club and Yeti Cooler.
The Inc. 5000 is based on revenue growth, and with a 70% growth rate since 2013, Ideal Industries more than fits the profile of an Inc. 5000 Company. Ideal President Pat Lyons spoke to what it means for the company he joined in July of 2008, to be recognized so significantly for its achievement.
“I think it validates that what we’re doing is working,” said Lyons, “and it’s a reflection of the quality of the people who work with us.”
Ideal Industries has made several strategic acquisitions during Lyons’ tenure. Those purchases have positioned Ideal Industries well, as both a contract manufacturer of custom metal products and an Original Equipment Manufacturer (OEM), with Ideal-branded products in the agricultural and self-service car wash industries.
Lyons commented that the company’s plan for future growth called for an emphasis on the OEM side of Ideal Industries’ business.
“A significant part of our growth has been based on increasing the OEM percentage of the products that we manufacture,” Lyons allowed. “The strategy is to get closer to the customer. The way we execute that strategy is to buy and build product lines that go directly to the end user.”