Innovative Office Products, a portfolio company of Corridor Capital, has acquired Ergotech Group. Both companies design, manufacture and sell mounting products for flat panel monitors, notebooks and tablets.
Innovative Office Products (IOP) was acquired by Corridor Capital in September 2013. The company sells its products – more than 5,000 SKUs – to US and internationally based commercial furniture OEMs, IT and office equipment distributors, value-added resellers, and healthcare equipment OEMs. The company is headquartered north of Philadelphia in Easton, PA (www.lcdarms.com). Similar to IOP, Ergotech is a manufacturer of multi-monitor desk stands and is headquartered near White Plains in Elmsford, NY (www.ergotechgroup.com).
“Ergotech is a great strategic fit with IOP. It significantly amplifies IOP’s position in the IT and value added reseller channels. We believe the additional sales resources and products will create significant opportunity for IOP going forward,” said Corridor Capital Managing Director, Cameron Reilly.
Corridor Capital makes control investments of $3 million to $12 million in mid-market companies with EBITDAs of $2 million to $5 million. Sectors of interest include specialty manufacturing, business services, and environmental services. Corridor focuses on complex situations, particularly those requiring growth support or operational or financial engagement. Corridor’s investor base includes approximately 150 executives across an array of industries and disciplines that the firm uses as an active resource for its portfolio companies and their teams. The firm is based in Los Angeles (www.corridorcap.com).
TCF National Bank (www.tcfbank.com) provided debt financing for the transaction.
© 2015 PEPD • Private Equity’s Leading News Magazine • 10-5-15