Innovize has welcomed Vance Street Capital as its new majority shareholder and investment partner earlier this month, adding valuable resources for growth at Innovize.
A while back, Innovize owners John Ledy and Dave Jessen realized they needed to find a financial partner to assist with their approaching transition into retirement. John and Dave were dead-set on finding a company that would continue the work of Innovize while upholding a commitment to the Innovize associates and customers to expand on their already strong foundation of “creating a culture and products that improve people’s lives”.
After significant research and vetting, Innovize accepted an offer of just such a partnership from Vance Street Capital, a Los Angeles-based private equity firm with a long history of investing in medical manufacturing businesses. Vance Street will invest in Innovize to complement Excel Scientific, another company in their portfolio. Excel Scientific is a leading global supplier of microplate sealing films and custom laminate constructions to Life Science segments. As Excel Scientific sought to enhance its offering of customized solutions, they identified Innovize, and its expertise in creating custom film and adhesive based components, as a perfect fit.
Julie Cameron, CEO of Excel Scientific, will now also operate as Innovize’s new Co-CEO with John. Julie is energized about the complimentary capabilities that the companies can leverage for growth for their customers and their associates.
The leadership and associates at both Innovize and Excel Scientific remain focused on meeting our customers’ needs and supplying critical construction on time, to specification. They continue to pride themselves in solving difficult challenges, creatively, enabling their customers to serve unique needs of their markets.
Excel Scientific will continue to operate out of their site in California.
The Innovize team is looking forward to the additional support and resources from Excel Scientific and Vance Street Capital as they continue to build the business.
Do not hesitate to reach out to the team at Innovize with any questions you might have about this new relationship.