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Innovance
AddedFeb 15, 2024
UpdatedJun 18, 2026
Innovance

Innovance

Lou-Rich, Inc. offers comprehensive contract engineering and lean manufacturing services, from design to assembly.

HQ
Albert Lea, MN, US
Founded
1972
Overview
Compare
Fundraising
Employees
Website

Innovance, founded as a holding company for five employee-owned manufacturing firms in Minnesota and Wisconsin, focuses on delivering exceptional contract engineering and lean manufacturing services. The company's core mission is to drive innovation and performance while ensuring outstanding customer experiences. Innovance's services include design, sourcing, manufacturing, assembly, welding, fabrication, painting, concept development, skilled engineering, and prototype testing.

Notable affiliated individuals include Josh Elwood. Innovance's employee-ownership model has fostered a strong commitment to quality and customer satisfaction. Key achievements include the successful integration of multiple specialized manufacturing firms under one umbrella, enhancing operational efficiency and market reach. Innovance's impact is evident in its ability to provide comprehensive engineering solutions that meet diverse industry needs.

Innovance - Similar Companies

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Swift Manufacturing & Engineering logo

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Innovance - Quick Facts

Who are Innovance's competitors?

Companies similar to Innovance include Product Innovation and Engineering, Innoveering, Creative Manufacturing Solutions and Swift Manufacturing & Engineering.

When was Innovance founded?

Innovance was founded in 1972.

Where is Innovance's headquarters located?

Innovance's headquarters is located in Albert Lea, MN, US.

When was Innovance's last funding round?

Innovance's most recent funding round was for $88M (USD) in February 2002.

How much has Innovance raised to-date?

As of Feb 25, 2002, Innovance has raised a total of $183M (USD).

How many employees does Innovance have?

Innovance has 375 employees as of Feb 4, 2024.

Innovance - Classification

Industry
  • Professional Service Companies
Ownership
  • Private
Technology
  • Automation
Geographic Exposure
  • United States
Customer
  • Enterprise
Main Product
  • Engineering
Tags
  • Consulting
  • Manufacturing
NAICS
  • 330000Manufacturing
SIC
  • 3900Miscellaneous Manufacturing Industries
ISIC
  • 6420Activities of holding companies
Show 8 more industry codes
NAICS
  • 550000Management of Companies and Enterprises
  • 551000Management of Companies and Enterprises
  • 551100Management of Companies and Enterprises
  • 551110Management of Companies and Enterprises
  • 551112Offices of Other Holding Companies
SIC
  • 6710Holding Offices
  • 6719Offices of Holding Companies, Not Elsewhere Classified
  • 6700Holding And Other Investment Offices