Iverson & Company, established in 1931 by Edward A. Iverson, is a premier machine tool sales, service, and remanufacturing firm headquartered in Des Plaines, Illinois. The company is renowned for its expertise in selling and rebuilding Hardinge machine tools, emphasizing quality and comprehensive service. Over the years, Iverson & Company has sold more than 12,000 new machines, solidifying its position in the machinery manufacturing industry.
Key Strategic Focus
Iverson & Company specializes in providing a wide range of machine tools, robotics, automation solutions, and CAM systems. Their product portfolio includes:
- Machine Tools: Index Horizontal, Vertical, and Turn-Mill Centers; Fryer Machines for Tool Rooms, Job Shops, and Production; Jakobsen Surface Grinding Machines; Traub Universal, Swiss, and Turn-Mill Centers; NexTurn Standard & High Precision Swiss Turning Centers; Hyd-Mech Sawing Solutions.
- Tooling & Measuring Equipment: CDI Electronic Indicators; Northfield Precision Chucks; Circle Boring Bars & Inserts.
- Robotics & Automation: JH Robotics Inc.; WesTech Automation Solutions; DisTech Systems Automated Tray Handling Systems; Toellner Systems Automated Loading Solutions; LNS Barfeed Systems; IEMCA Barfeed Systems; Spego Barfeed Systems.
- CAM Systems: PartMaker Offline Programming Systems; ESPRIT CAM Systems.
The company primarily serves regions including Illinois, northwest Indiana, Wisconsin, and Michigan's Upper Peninsula, focusing on delivering tailored solutions to meet diverse manufacturing needs.
Financials and Funding
In June 2023, Iverson & Company was acquired by Luxe Business Partners Inc., led by DeJuan Lever. This acquisition, facilitated by Calder Capital LLC, is expected to provide additional resources and expertise, positioning the company for future growth and expansion.
Technological Platform and Innovation
Iverson & Company distinguishes itself through its commitment to quality and full-service offerings. The company operates a rebuilding division, Ternstrom & Company, recognized for its expertise in refurbishing Hardinge toolroom lathes. Their remanufacturing process includes:
- Installing new spindles and bearings with certification.
- Applying new wear strips on the Hardinge cross slide and new Teflon undercarriage surfaces.
- Replacing tailstock quills and bedplates.
- Installing new lead screws.
- Stripping all castings and sheet metal to bare surfaces, followed by priming, sanding, and painting with factory-spec Sherwin Williams Polane 7B paint, ensuring a like-new appearance.
This meticulous approach ensures that rebuilt machines meet or exceed original specifications, providing customers with reliable and high-quality equipment.
Leadership Team
- DeJuan Lever: President & Chief Executive Officer. With two decades of experience in sales, marketing, and supply chain management across industrial, automotive, and oil & gas markets, DeJuan has a proven track record in transforming and influencing buying decisions at global organizations. He holds a bachelor's degree in supply chain management from Michigan State University, an executive MBA from Purdue University, and has completed executive education at the University of Chicago's Booth School of Business.
- Terry Iverson: Operations & Sales Consultant. A machine tool veteran with over 42 years of experience, Terry has been instrumental in the company's growth and success. He continues to contribute to Iverson & Company, focusing on sales and business development.
Leadership Changes
In June 2023, DeJuan Lever succeeded Terry Iverson as President & CEO following the acquisition by Luxe Business Partners Inc. Terry Iverson transitioned to the role of Operations & Sales Consultant to assist with the transition and continue supporting sales and business development efforts.
Competitor Profile
- Market Insights and Dynamics: The machinery manufacturing industry is characterized by a competitive landscape with several key players offering a range of products and services. The market is driven by technological advancements, demand for automation, and the need for efficient manufacturing processes.
- Competitor Analysis: Notable competitors include Grainger, Fastenal, and Anixter, each offering diverse product portfolios and services. Iverson & Company's focus on quality, full-service offerings, and specialized expertise in rebuilding Hardinge machine tools provides a competitive edge in targeting customers seeking tailored solutions.
Strategic Collaborations and Partnerships
Iverson & Company represents a range of reputable products and services, including:
- Machine Tools: Index Horizontal, Vertical, and Turn-Mill Centers; Fryer Machines; Jakobsen Surface Grinding Machines; Traub Universal, Swiss, and Turn-Mill Centers; NexTurn Swiss Turning Centers; Hyd-Mech Sawing Solutions.
- Tooling & Measuring Equipment: CDI Electronic Indicators; Northfield Precision Chucks; Circle Boring Bars & Inserts.
- Robotics & Automation: JH Robotics Inc.; WesTech Automation Solutions; DisTech Systems Automated Tray Handling Systems; Toellner Systems Automated Loading Solutions; LNS Barfeed Systems; IEMCA Barfeed Systems; Spego Barfeed Systems.
- CAM Systems: PartMaker Offline Programming Systems; ESPRIT CAM Systems.
These partnerships enable Iverson & Company to offer comprehensive solutions tailored to diverse manufacturing needs.
Operational Insights
Iverson & Company's strategic considerations include leveraging its long-standing reputation for quality and service to maintain a strong market position. The recent acquisition by Luxe Business Partners Inc. is expected to provide additional resources and expertise, enhancing the company's ability to compete effectively and expand its market reach.
Strategic Opportunities and Future Directions
Under new leadership, Iverson & Company aims to build upon its legacy by focusing on growth and innovation. The company plans to explore new business partnerships, expand its product offerings, and enhance its service capabilities to meet evolving customer needs. By emphasizing quality, full-service solutions, and leveraging its expertise in machine tool sales and remanufacturing, Iverson & Company is well-positioned to achieve its future objectives.
Contact Information
- Website: www.iversonandco.com
- LinkedIn: www.linkedin.com/company/iverson-&-company
