TCF Capital Funding increased its existing credit facilities to support Innovative Office Products (IOP), a portfolio company owned by Corridor Capital in its acquisition of Ergotech Group.
Elmsford, NY-based Ergotech is a manufacturer of multi-monitor desk stands that recently released its first electrically driven sit-stand workstation, the One Touch Free Stand. The addition of Ergotech provides IOP increased access to the IT and VAR sales channels and creates favorable product line expansion opportunities for both companies.
Easton, PA-based IOP is a manufacturer of ergonomic mounting solutions for flat panel monitors, notebooks, tablets and control panels.
“We are excited to support an existing TCF Capital Funding portfolio company in this accretive acquisition. The addition of Ergotech with IOP strengthens both businesses and also solidifies IOP as an innovative leader in the emerging sit-stand product category,” said TCF Capital Funding president Joe Gaffigan.
“Ergotech is a great strategic fit with IOP. It significantly amplifies IOP’s position in the IT and VAR channels. We believe the additional sales resources and products will create significant opportunity for IOP going forward,” said Corridor Capital managing director, Cameron Reilly.