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INNOVATION INDUSTRIES ACQUIRES VCI
Russellville, Arkansas-based Innovation Industries, Inc., a privately held manufacturer of elevator fixtures and components, announced on August 30 it acquired Virginia Controls Inc. (VCI) of Richmond, Virginia, from longtime owner and outgoing President Fred Landon. Landon said III stood out from other potential buyers due to its reputation and its products being a good fit. Established in 1967, VCI supplies elevator- and escalator-control products and accessories for systems ranging from two-landing hydros to traction elevators that travel 500 ft. Observing that all VCI employees, management and its Richmond headquarters will be retained, Innovation President and CEO Paul Horney says VCI controls will be complementary to the product lines of both Innovation and those of its subsidiary Monitor Elevator Products.
Image credit: Innovation Industries
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