OWNER REVOLUTION INC. ACQUIRES BLUE WAVE ULTRASONICS, INC., A MANUFACTURER OF
ULTRASONIC CLEANING SYSTEMS LOCATED IN DAVENPORT, IOWA

ADAIR, IOWA – October 2, 2017 – Owner Revolution Inc. (ORI), an employee-owned company, announced that it has acquired Blue Wave Ultrasonics, Inc. (Blue Wave), a world-class manufacturer of ultrasonic cleaning systems.  The purchase is an important addition to other Iowa companies owned by ORI and furthers ORI’s strategy of acquiring successful manufacturing businesses in niche markets in the Midwest region of the United States.

“Our acquisition of Blue Wave Ultrasonics, Inc. helps us achieve our goal of acquiring manufacturing businesses that have achieved dominant positions in niche markets.  We are on a journey to build a diverse portfolio of manufacturing businesses that have demonstrated success in their particular markets,” said Don Hudak, President and CEO of ORI.

“Joining with ORI will help support the continued growth and success of our business.  We look forward to collaborating with the ORI team and expanding our opportunities to serve existing and new customers,” said Jeff Hancock, President of Blue Wave.

Blue Wave Ultrasonics has a vast history of manufacturing ultrasonic cleaning systems for industry and healthcare.  It’s predecessor, Bendix Corporation, developed a superior ultrasonic technology in the early 1950’s and marketed cleaning systems and detergents under it’s Sonic Energy Cleaning Products line.  In 1981, a group of Bendix executives purchased the manufacturing and distribution rights under Swen Sonic Corporation and continued to improve and expand the technology.  Blue Wave Ultrasonics, Inc. acquired the assets of Swen Sonic Corporation in 1992, continuing on the tradition of manufacturing the most reliable ultrasonic cleaning systems in the marketplace.

Blue Wave works with a diverse group of customers in the Automotive, Aerospace, Hospital/Surgical, Molds/Tooling, Textiles, Medical Device Manufacturing, Pharmaceutical, Electronics / Semiconductor, and Marine, Heavy Duty & Off-Road Equipment Manufacturing industries.

ULTRASONIC CLEANING involves the use of high-frequency sound waves (above the upper range of human hearing, or about 18 kHz) to intricately remove a variety of contaminants from parts immersed in aqueous media.  The contaminants can be dirt, oil, grease, buffing/polishing compounds, and mold release agents, just to name a few.  Materials that can be cleaned include metals, glass, ceramics, etc.

ORI is an Iowa based holding company for four wholly-owned subsidiaries. Schafer Systems is a recognized leader in the production of lottery ticket dispensers and promotional displays worldwide.  A second business is Connect-A-Dock which sells floating modular dock and personal watercraft float systems in the worldwide marine industry.  A third subsidiary is The Plastics Professionals which produces a wide variety of rotationally molded plastic products serving the needs of many industries and customers.  A fourth subsidiary is Schafer Solutions providing eye-catching, complete, turn-key point of purchase plastic displays, dispensers and products and solutions designed around our customers’ special needs.

ORI has facilities in both Adair and Atlantic, Iowa with combined manufacturing and office space of over 300,000 square feet. ORI was founded in 1986 and became an employee stock ownership plan (ESOP) company in 1999.

Contact:

David W. Fitch

(641) 742-5148

Dave.fitch@ownrev.com

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