Riverbank Laboratories, Inc. is an aluminum tuning forks manufacturer with deep roots in Geneva, IL. Originally founded in 1913 as a research institute by textile magnate George Fabyan, the company has since evolved thanks to its founder’s passion for acoustics. Riverbank began producing aluminum tuning forks in 1921, and today its team of nine serves the medical, alternative medicine, education and law enforcement markets.
Riverbank Laboratories continues to serve domestic clients, while also exporting their aluminum tuning forks to international markets. In 2015, the company received a grant from Metro Chicago Exports’ inaugural Grant Program, enabling Riverbank to tackle costs associated with their recent expansion into European markets. The company used the grant funds to finance the creation of a new website, marketing materials and professional product photos, and to attend a medical trade show in Germany. Through the grant, Riverbank was also able to localize product packaging to include CE marking, ultimately leading the company to acquire a new customer and more than double its export volume.
Today, Riverbank Laboratories has customers in Canada, Germany and the United Kingdom, allowing the company to diversify its revenue and avoid the risks of relying solely on the domestic market’s changing business cycle. Through exporting, the company has been able to boost brand awareness as well as overall sales, helping Riverbank grow in scale. The company has since been able to increase its production volumes and better distribute overhead costs, and has added a full-time equivalent employee to the team.