FLOW-RITE CONTROLS HONORED AS ONE OF THE 2009 “MICHIGAN 50 COMPANIES TO WATCH”

Flow-Rite Controls has been recognized as one of the 2009 “Michigan 50 Companies to Watch,” an awards program sponsored by the Edward Lowe Foundation and presented by Michigan Celebrates Small Business.

Flow-Rite Controls was honored at an awards ceremony during the fifth annual Michigan Celebrates Small Business event, April 30 in Lansing, Mich.

“In today’s economy, Companies to Watch has become a real game changer,” says Penny Lewandowski, director of entrepreneurship development at the Edward Lowe Foundation, a nonprofit operating foundation based in Michigan. “It changes the conversation from slow- growth, layoffs and closings, to companies that are expanding, hiring, and moving beyond traditional markets.”

“Presenters of the Michigan program recognized this potential since its inaugural year, five years ago,” Lewandowski says. “With a vow to find 50 new companies to celebrate each year, Michigan 50 Companies to Watch is now 250 strong. These are the companies that sustain Michigan through tough times and are transforming how the rest of the nation views the state.”

As a vertically integrated company, Flow-Rite Controls designs, manufacturers, and markets fluid control devices that are widely used in lead acid batteries, recreational fishing boats, laboratory and medical devices. Flow-Rite is continuing to expand its product line up to include refill valves for tire inflation as well as a new line of fasteners that will be used broadly across all industries.

When asked about being selected, Flow-Rite’s President Dan Campau said, “Our team is excited to have been selected as a Michigan 50 to Watch company. It’s nice to know that even though our work is buried in the bilge of a boat or under a forklift seat, it still gets noticed! We are excited to explore our many growth opportunities with both our existing and upcoming new products. In anticipation (of this
growth) we have just completed a 49K square foot addition that doubled the size of our facility. Though our business grows across the country and in international markets, we are proud to call Michigan our home.”

Companies nominated for the “Michigan 50 Companies to Watch” list must be second-stage companies, defined as having 6 to 99 full-time- equivalent employees and generating $750,000 to $50 million in annual revenue or working capital from investors or grants. In addition, the companies must be privately held and headquartered in Michigan.

Winners were selected by judges from the banking, economic development, entrepreneurship development and venture capital communities. Judges evaluated the nominees’ demonstrated intent and capacity to grow based on one or more of the following:
• Employee or sales growth.
• Exceptional entrepreneurial leadership.
• Sustainable competitive advantage.
• Other notable factors that showcase the
company's success.