CHICAGO RIVET & MACHINE Business Summary

Chicago Rivet & Machine Co. (CVR) operates a dual-segment manufacturing model focused on the production and sale of specialized assembly solutions, primarily serving the North American automotive, appliance, and electrical industries. The company generates revenue through two primary streams: the Fastener segment, which produces semi-tubular rivets, cold-formed parts, and screw machine products via its subsidiary H&L Tool Company; and the Assembly Equipment segment, which designs and manufactures automatic rivet setting machines and provides ongoing maintenance and spare parts. As a micro-cap player in a highly fragmented market, CVR differentiates itself through its century-long engineering pedigree and vertically integrated assembly systems. It competes directly with industrial fastener and machinery providers such as Edward Segal, Inc., Fastening Systems International, and global distributors like Bossard Group and Sterling Tools. Founded in 1920, the company is currently led by Chief Executive Officer Gregory D. Rizzo, who assumed the role in May 2023 to spearhead a strategic turnaround and operational consolidation. The executive team includes Chief Financial Officer Joel M. Brown and Vice President of Sales William G. Stlaske, both of whom joined in late 2023 to modernize the firm’s financial and commercial strategies. The Board of Directors is chaired by James W. Morrissey, reflecting the long-standing influence of the Morrissey family, who remain significant shareholders alongside institutional investors such as Galloway Capital Management and Dimensional Fund Advisors. Recent governance updates include the 2024 appointment of Karen G. Ong to the board, bringing additional audit and financial oversight expertise to the leadership team.