What Rayser does

Rayser Holdings, Inc. is a privately held, employee-owned (ESOP) holding company headquartered at 1014 5th Ave SE in Cedar Rapids, Iowa, established in 2018 as a vehicle to diversify beyond its originating subsidiary, CarePro Health Services, which traces its roots to 1971. The holding company operates a diversified portfolio of wholly-owned operating subsidiaries spanning healthcare services, industrial manufacturing, and consumer services. Its active operating subsidiaries include CarePro Health Services (home medical equipment, home infusion, compounding pharmacy, and home care); J-TEC Associates (vortex flow meters and sensors for automotive, military, industrial, and mining applications); Midwest Memorials (monument and memorial services across Iowa, including Des Moines-Winterset Memorials, Winterset Monument Company, and Atlantic Memorials); Skunk River Block & Pallet (custom wood pallets, crates, and specialty wood packaging); and Memorials by Michel (monument company serving Johnson and Linn counties). Each subsidiary operates under its own brand identity with local management, while Rayser provides centralized shared services including HR, accounting, IT, and marketing support. KELTEK, Incorporated, a vehicle upfitting and public safety technology business, was acquired in January 2019 and sold to MacQueen Group in March 2025 as part of portfolio optimization.

The company's business model is a holding-company roll-up that acquires and stewards established small-to-mid-market operating companies, transitions them to ESOP ownership, and preserves their local brands and community roots. Rayser's go-to-market approach is essentially a holding-company acquisition strategy: each subsidiary maintains direct sales relationships with its specific customer base — including healthcare providers and patients (CarePro), industrial manufacturers (J-TEC), families and cemeteries (Midwest Memorials), and central Iowa manufacturers (Skunk River) — all with regional, primarily Iowa-centric geographic scope. The underlying technology stack is minimal at the holding-company level; Rayser uses the Beekeeper intranet platform for internal employee engagement across subsidiaries, an initiative recognized with the 2024 AACE Award for intranet communications excellence. In 2024, Rayser was named the National Employee Owned Company of the Year by The ESOP Association, and CEO Michelle Jensen was appointed to the 2025-2026 Iowa Association of Business and Industry Board of Directors. The company is actively soliciting additional acquisitions through its website and contact channels.

Name

Rayser

Legal name

Rayser Holdings, Inc.

Website

https://rayserholdings.com

Company type

Private

Founded year

1971

Operating status

Operating

Headcount range

1–10 employees

Short description

Rayser Holdings is an ESOP-owned holding company based in Cedar Rapids, Iowa, that acquires and operates a diversified portfolio of established businesses across healthcare (CarePro), industrial flow measurement (J-TEC), memorial services (Midwest Memorials), and wood packaging (Skunk River).

Ownership category

akta.pro rank

Headquarters

HQ city

Cedar Rapids

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Supply Chain

Distribution channels5 records

Marketing channels6 records

Core offering

Rayser Holdings is an employee-owned (ESOP) holding company that operates a diversified portfolio of operating subsidiaries across healthcare, memorial services, industrial flow measurement, and custom wood packaging. Through shared services in HR, marketing, IT, and accounting, the company provides back-office support to its subsidiaries while preserving each subsidiary's brand identity and customer relationships. The company also pursues acquisitions of family-owned businesses seeking succession-planning and employee-ownership transitions.

Product overview

Rayser Holdings is an employee-owned holding company established in 2018 that operates a diversified portfolio of companies. The company provides a unified employee ownership model (ESOP) across its subsidiaries, which include CarePro Health Services (healthcare), Midwest Memorials (monuments and memorials services), J-TEC Associates (flow meters for industrial applications), and Skunk River Block & Pallet (custom wood packaging). The portfolio operates under a shared services model where Rayser provides administrative support while subsidiaries maintain their individual brands and operational identities.

Differentiator

Problem solved

Functional benefit

Brands

• CarePro: CarePro Health Services connects customers and healthcare providers with people, products and answers for home medical equipment, home care, home infusion and compounding services.
• Midwest Memorials
• J-TEC Associates
• Skunk River Block & Pallet

Products and services

• CarePro Health Services Healthcare services providing home medical equipment, home care, home infusion, and compounding pharmacy services to healthcare providers, hospitals, and patients across Iowa.
• Midwest Memorials, LLC Monument and memorial services including sandblasting, carving, etching, repair, complete memorial setting, and cemetery installation for families and cemeteries across Iowa.
• J-TEC Associates Vortex flow meters and sensors for internal combustion engine air-intake, exhaust, and crankcase blow-by flow measurement, with specialized sensors for military ground vehicle weapon systems; serves automotive, military, industrial, and mining applications.
• Skunk River Block & Pallet, Inc. Custom wood pallets, crates, blocks, and specialty wood packaging products for central Iowa manufacturers and industrial businesses.
• Memorials by Michel Monument and memorial services for families throughout Johnson and Linn County communities in Iowa, operating under the Midwest Memorials brand.

Quantifiable outcome

• National Employee Owned Company of the Year 2024 - recognized among 19 chapter-level winners
• +1 more outcomes

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Five partnerships are on record, tiered core and minor.

• Iowa Association of Business and Industry (ABI)coreOthers · 1 August 2025Michelle Jensen, President and CEO of Rayser Holdings, named to the 2025-2026 Board of Directors for Iowa Association of Business and Industry. This board position provides strategic networking and influence within Iowa's business community.
• The ESOP AssociationcoreOthersRayser Holdings is an active member of The ESOP Association, participating in national and chapter events. Michelle Jensen serves on Iowa ABI Board alongside ESOP Association chapter connections. Angie Hoover serves as Vice President of Programming for IA/NE Chapter.
• BBB (Better Business Bureau)minorOthersBBB accreditation and trust badge displayed on Rayser Holdings website.
• Iowa/Nebraska Chapter of The ESOP AssociationcoreOthersActive member chapter with leadership participation. Angie Hoover serves as Vice President of Programming. Trevor Monnig serves as chapter president of The ESOP Association's Heart of America chapter.
• Junior Achievement of Central IowaminorOthersRachel Adams, Board of Directors member at Rayser, also serves on the board of directors for Junior Achievement of Central Iowa.

Scale indicators7 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Service Corporation International (SCI): Public deathcare industry leader that consolidates funeral homes and cemeteries. Comparable to Rayser's Midwest Memorials subsidiary in terms of serving families with monuments and memorial services, though at vastly larger scale with national scope.
• CHEP (a Brambles company): Global pallet and container pooling leader. Comparable to Rayser's Skunk River Block & Pallet subsidiary in the wood packaging space, though several orders of magnitude larger and focused on pooling rather than custom new pallets.
• Lincare Holdings: Large home medical equipment and respiratory services provider. Highly comparable to Rayser's CarePro Health Services subsidiary in terms of product line (home medical equipment, home infusion), though operating at much greater scale.
• WinCo Holdings: Employee-owned supermarket chain operating as a holding company. Shares the ESOP ownership structure and diversified subsidiary management approach, though concentrated in retail rather than the diversified industries Rayser pursues.
• Endress+Hauser: Global leader in industrial flow measurement instrumentation. Highly comparable to Rayser's J-TEC Associates subsidiary in terms of flow meter and sensor technology, though operating globally with vastly larger R&D and product breadth.
• Recology: 100% employee-owned waste management holding company. Comparable ESOP-based holding company structure with diversified operating subsidiaries, demonstrating the model at significantly larger scale.
• Hy-Vee, Inc. Large Iowa-based employee-owned grocery and health services company. While much larger and more focused than Rayser, it shares Midwest roots, an employee-ownership culture, and a diversified portfolio including healthcare-adjacent services.

Direct peers

• SRC Holdings Corporation: Springfield, MO-based ESOP holding company operating a diversified portfolio of industrial and non-financial businesses. Comparable to Rayser in ownership structure (100% ESOP) and approach of acquiring and operating small, non-core subsidiaries under a shared services model.
• PFSbrands: PFSbrands is a Missouri-based employee-owned parent company of food service brands such as Champs Chicken. Rayser's board chair Trevor Monnig served as PFSbrands' CFO for 8 years, creating direct structural and operational parallels — both are diversified ESOP holding companies built around local operating subsidiaries.

Emerging players

• Wawak (Camfour / HoldCo): Privately held, employee-centric industrial and apparel holding company. Shares Rayser's small-scale, privately-held holding company status and operating company diversification model, though in different verticals.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

• Facebookfacebook.com/Rayser-Holdings-2053497711571773
• LinkedInlinkedin.com/company/rayser-holdings
• Xx.com/rayserholdings

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Rayser