Industrial Innovations Acquires Advance Products CorporationSeptember 18, 2023
Industrial Innovations, Inc., a provider of metalworking spray-lubrication and diecasting automation equipment, has acquired Advance Products Corp., in a strategic asset purchase of its consumable die-casting products and systems including ladle cups, die clamps, hand sprayers, shot sleeves, plunger rods, plunger tips and die-lubrication systems and reclaimers. Industrial Innovations, founded in 1981, expanded its presence within the diecasting and foundry industries by purchasing, in 2014, the Advance Products automation division, forming Advance Automation LLC, collocated alongside its Grandville, MI, facility. The new asset purchase primarily involves the procurement of molds and tooling, allowing Industrial Innovations to integrate Advance Products’ consumable product line seamlessly into its existing operations and broaden its customer base and market presence.
Says Troy Turnbull, president and CEO of Industrial Innovations: “This move is a good fit for our business because it’s always valuable to have a consumable product to sell, and Advance Products has a quality product. We admire its long-standing history and contributions to the industry and are committed to continuing its 75-yr. tradition of excellence.”
This strategic acquisition will lead to significant company growth, Turnbull says, including plans to hire new machinists, office staff, inside and outside sales representatives, and assembly workers.
See also: Industrial Innovations, Inc.