MILWAUKEE, WI – July 1, 2013 – Hatco Corporation has acquired Ovention, Inc., the Dallas, Texas based oven technology company. Ovention owns the rights to the Matchbox Oven which was recognized earlier this year by the National Restaurant Association with a Kitchen Innovations Award.

“We are very excited about the Ovention technology and its overall industry potential. The Matchbox oven is truly revolutionary and solves many common operator problems. This technology offers excellent growth potential for years to come.” said David Rolston, President and CEO, Hatco Corporation. “The focus on delivering customer value through highly innovative products is a natural fit with the way we’ve run our business for over 60 years.”

Hatco Corporation has been serving as the sole, contract manufacturing partner to Ovention since the second half of 2012. Hatco intends to operate Ovention as an independent business unit supported by a team of dedicated professionals, several of whom will transition with Ovention, Inc. to Hatco Corporation as part of the acquisition. Hatco has appointed current Director of Business Development, Steve Everett, Jr., to the position of General Manager of the Ovention business unit.

“From a market perspective, Ovention’s team will be independent from Hatco’s which will allow us to dedicate our sales professionals and manage our distribution channel efficiently. ” said Rolston. “The synergies provided by leveraging our manufacturing resources will further contribute to Ovention’s and Hatco’s success.”

ABOUT HATCO CORPORATION:
Hatco Corporation is a Milwaukee Wisconsin-based, employee-owned company with a history of over 60 years of excellence in the design, production, and servicing of holding and warming equipment. In 2009, Hatco introduced their first Refrigerated Drop-In Well product, bringing the same excellence to the cooling part of their foodservice product line.
For additional information please contact your Hatco sales representative or visit our website at www.hatcocorp.com.

ABOUT OVENTION, INC.:
Ovention is a company driven by award-winning innovation, integrity and an intense desire to solve problems that others walk away from. That spirit of innovation has produced a series of ovens, including the revolutionary Matchbox oven, which meets the real world needs of commercial operators. Ovention founder Phil McKee is the former co-founder of TurboChef Inc., where he and his team created the original TurboChef oven and pioneered the Accelerated Cooking sector.