{"id":23437,"date":"2018-02-21T20:05:16","date_gmt":"2018-02-21T19:05:16","guid":{"rendered":"http:\/\/modern-wilderness.flywheelsites.com\/?p=23437"},"modified":"2018-02-21T20:06:47","modified_gmt":"2018-02-21T19:06:47","slug":"cathay-capital-leads-recapitalization-us-based-innovative-office-products","status":"publish","type":"post","link":"https:\/\/officerepublic.news\/en\/2018\/02\/cathay-capital-leads-recapitalization-us-based-innovative-office-products\/","title":{"rendered":"Cathay Capital leads recapitalization of US-based Innovative Office Products"},"content":{"rendered":"

\"\"<\/a>Cathay Capital Private Equity<\/a> <\/span>(\u201cCathay Capital\u201d) is pleased to announce that it has led the recapitalization of Innovative\u00a0Office Products<\/span><\/a>, an award-winning, North American designer and manufacturer of office and workspace ergonomic and related products including monitor arms, sit-stand workstations, multi-monitor mounts and desk stands, point-of-sale (POS) mounts and healthcare and specialty Original equipment manufacturer (OEM) mounting solutions. This new investment capitalizes upon Cathay\u2019s deep experience in the global furniture and related accessories industry. Cathay has partnered with management, Norwest Mezzanine Partners<\/a> <\/span>and ORIX Mezzanine & Private Equity<\/a><\/span> in this investment.<\/strong><\/p>\n

Family-owned company<\/h4>\n

Based in Easton, Pennsylvania, Innovative began as a family-owned operation in 1986 and has grown into a global company\u00a0over the past 30 plus years. The company designs, develops and assembles leading products in the U.S. and sells into multiple markets including corporate offices, retailers, hospitality providers, hospitals and other healthcare providers, and to the government. Currently, Innovative serves North America, Europe (through its Copenhagen office) and Australia.<\/p>\n

\"\"<\/a>
Bild\u00ae \u2013 A highly configurable solution for multi-monitor applications | Innovative Office Products<\/figcaption><\/figure>\n

Access to resources and networks in China and Europe<\/h4>\n

Cathay\u2019s cross-border strategy focuses on providing access for its North American portfolio companies to resources and networks in China and Europe to establish sales relationships, improve operating and sourcing capabilities, and to enhance the strategic capabilities of portfolio companies in key global markets. Additionally, Cathay helps strengthen client and strategic relations throughout its own offices in China, Europe and other parts of the world. Innovative has the desire to more rapidly expand globally given the appeal of ergonomics and specialty-mounting products across markets. Cathay\u2019s successful experience with Germantown, WI-based Raffel Systems (www.raffel.com),\u00a0a leader in the\u00a0furniture motion controls industry, paved the way for Innovative to seek out Cathay\u2019s unique cross-border strategy.<\/p>\n

Attention to ergonomics<\/h4>\n

\u201cThe office furniture industry has been growing in a very healthy fashion in North America as an increasing percentage of professionals and employers are paying attention to ergonomics and smart office products that enhance workplace health and wellness while improving employee productivity. Cathay Capital\u2019s North America China and European teams are excited to work with Innovative to accelerate the Company\u2019s growth<\/em>\u201d said Mingpo Cai, Co-Founder and President of Cathay Capital. \u201cWe are thrilled \"\"<\/a>to partner with Norwest and ORIX in the recapitalization of Innovative and to fuel the rapid expansion of Innovative over the coming years, organically and through add-on acquisitions. This investment matches our strategy of helping forward-thinking North American companies identify and realize cross-border opportunities in China and Europe where Cathay has an extensive footprint and ecosystem<\/em>\u201d said Mark Woods,<\/a> Partner of Cathay Capital.<\/p>\n

Delighted to have Cathay, Orix and Norwest as partners<\/h4>\n

\"\"<\/a>On behalf of the Innovative management team, CEO David Fox<\/a><\/span> said, \u201cWe are delighted to have Cathay Capital, ORIX and Norwest as partners supporting our global growth. Our strategic visions are perfectly aligned and we are excited to achieve dynamic growth on multiple continents as we develop innovative ergonomic and mounting solutions to satisfy expanding demand for products that improve health, wellness and productivity.<\/em>\u201d<\/p>\n

Cleary Gull Inc<\/a><\/span>. acted as exclusive financial advisor to IOP Holdings, LLC in this transaction. TCF Capital Funding<\/a><\/span> provided a senior credit facility in the recapitalization.<\/p>\n","protected":false},"excerpt":{"rendered":"

Cathay Capital Private Equity (\u201cCathay Capital\u201d) is pleased to announce that it has led the recapitalization of Innovative\u00a0Office Products, an award-winning, North American designer and manufacturer of office and workspace ergonomic and related products including monitor arms, sit-stand workstations, multi-monitor mounts and desk stands, point-of-sale (POS) mounts and healthcare and specialty Original equipment manufacturer (OEM)…<\/p>\n","protected":false},"author":6,"featured_media":23442,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_publicize_message":"Cathay Capital leads recapitalization of US-based Innovative Office Products","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[3091,4530,4558],"tags":[4891,4892,4894,4893],"jetpack_publicize_connections":[],"acf":{"app_titel":"","app_article":""},"yoast_head":"\nCathay Capital leads recapitalization of US-based 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