TCF Capital Funding provided secured financing to support the recapitalization of Innovative Office Products led by Cathay Capital Private Equity. Cathay Capital partnered with management, Norwest Mezzanine Partners and ORIX Mezzanine & Private Equity in this recapitalization.
Based in Easton, PA, Innovative is a 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 mounts and healthcare and specialty OEM mounting solutions.
“We are excited to continue our relationship with Innovative and participate with Cathay Capital, Norwest and ORIX on this recapitalization,” said Kevin Nowak, TCF Capital Funding senior vice president.
TCF Capital Funding is a division of TCF National Bank, which is a subsidiary of TCF Financial.
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Cathay Capital is an international private equity firm in the field of cross-border investment, committed to supporting the international expansion of middle-market companies in North America, China and Europe.
Norwest Mezzanine Partners invests junior capital to support private equity sponsored transactions.
ORIX Mezzanine & Private Equity offers a variety of junior debt and equity financing options for lower mid- to middle-market companies throughout North America.
