Two dozen Iowa companies make Inc. 5000 list
Vinton business has grown revenue 70 percent since 2013
George C. Ford
With a 70 percent revenue growth rate since 2013, Ideal Industries of Vinton more than fits the criteria of a company selected for the Inc. 5000 list of the fastest-growing companies in America.
The company, ranked No. 4067 with revenue of $7.8 million in 2015, is one of 24 Iowa businesses named to the 2016 Inc. 5000 list. Ideal Industries President Pat Lyons, who joined the company in 2008, said being chosen for the Inc. 5000 is a significant milestone for the organization.
“I think it validates that what we’re doing is working,” Lyons said. “It’s a reflection of the quality of the people who work with us.”
Ideal Industries, launched in 1979, has made several strategic acquisitions during Lyons’ tenure. Those purchases have positioned the company as a contract manufacturer of custom metal products and an original equipment manufacturer with Ideal-branded products in the agricultural and self-service car wash industries.
Looking to the future, Lyons said Ideal Industries plans to focus on the original equipment manufacturing (OEM) side of its business.
“A significant part of our growth has been based on increasing the OEM percentage of the products that we manufacture,” he said. “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.”
Other Eastern Iowa companies making the 2016 Inc. 5000 list and their rankings include: Converge Consulting of Cedar Rapids (378); MediRevv of Coralville (2268); Health Solutions of Cedar Rapids (2878); Raining Rose of Cedar Rapids (3097); Ready Wireless of Hiawatha (3418); Clickstop of Urbana (3505); TrueNorth Companies of Cedar Rapids (3669); Circle Computer Resources of Cedar Rapids (4465); MindFire Communications of LeClaire (4482); and MD Orthopaedics of Wayland (4811).