TCF Finances Corridor Capital’s IOP Acquisition
TCF Capital Funding, the Chicago-based cash flow and asset-based lending division of TCF National Bank, announced that it provided a $10 million secured financing to support the acquisition of Innovative Office Products (IOP) by Corridor Capital.
IOP, headquartered in Easton, PA, is a manufacturer of ergonomic mounting solutions for flat panel monitors, notebooks, tablet PCs and control panels.
“IOP is a leader in this niche segment, and we are excited to partner with Corridor Capital in its investment in IOP,” said TCF Capital Funding SVP Jim Kuncl. “The company’s management team has an excellent track record, and we look forward to supporting Corridor Capital as it grows the business.”
“We are extremely pleased to partner with the IOP team,” stated Craig Enenstein, CEO of Corridor. “We look forward to assisting the business as it goes through its next stage of infrastructure development, product innovation and growth.”