Norwest Mezzanine Partners Supports Cathay Capital’s Acquisition of Innovative Office Products
January 25, 2018
Minneapolis, Minnesota – Norwest Mezzanine Partners (NMP) has invested a combination of subordinated debt and equity securities in support of Cathay Capital’s acquisition of Innovative Office Products (or the “Company”), an award-winning designer and manufacturer of ergonomic products and accessories that improve health, wellness and productivity across a range of work environments.
Based in Easton, Pennsylvania, Innovative began as a family-owned operation in 1986 and over the past 32 years has grown into a global industry-leading company. The Company designs, develops and assembles office and workspace ergonomic products including monitor arms, sit-stand workstations, multi-monitor mounts and desk stands, point-of-sale (POS) mounts and healthcare and specialty OEM mounting solutions. The Company sells into multiple markets including corporate offices, retailers, hospitality providers, hospitals and other healthcare providers, and to the government.
“We are delighted to partner with Norwest. They mirror our excitement in Innovative’s growth prospects, and I know they will continue to be a strong, supportive partner to us as they were throughout the transaction process,” commented Mark Woods, Partner at Cathay Capital.
John Hogan, NMP Partner, stated, “Innovative Office Products is recognized within the industry for its quality, highly-engineered, top-performing products, competitive prices, and outstanding customer service. We are thrilled to invest in partnership with Cathay and the Innovative management team. Cathay’s deep experience in the global furniture and related accessories industry and its cross-border investment strategy make it an excellent partner for Innovative’s strong management team.”
About Cathay Capital
Cathay Capital is a leading international private equity firm in the field of cross-border investments, committed to supporting the international expansion of middle-market companies in North America, China and Europe. With more than $2.0 billion in assets under management across its funds, Cathay Capital has completed buyouts and growth capital investments in over 80 platform companies across three continents since its inception in 2007. Cathay Capital invests in middle-market companies in the consumer goods and services, healthcare, business services and technology industries. To learn more about Cathay Capital, please visit www.cathay.fr.