Innovative Motion Technologies (IMT), a global industrial technology platform and Cathay Capital portfolio company, closed a new senior credit facility led by TPG Twin Brook as sole lender. The financing supports IMT’s continued growth and buy-and-build strategy across diversified end markets including healthcare, industrial, HVAC and utilities.
The new financing strengthens the company’s capital structure and provides additional flexibility to invest in its vertically integrated platform, expand engineering capabilities, pursue strategic and synergistic acquisitions, and broaden its product offering across key end markets.
“This financing enables us to continue investing in the business while expanding our product offering across both existing and new end markets,” Rich Weeden, CEO of IMT, said. “We remain focused on building on our platform, supporting customers across our diversified end markets and driving continued growth across the business.”
Andrew Hartinger, CFO of IMT, added, “We are pleased to have completed this financing with a top-tier lending partner, which provides significant capacity to execute IMT’s buy-and-build strategy.”
Mark Woods, partner at Cathay Capital, said, “Since our investment in IMT, the company has evolved into a differentiated global platform in interface and control technologies, supported by best-in-class engineering and a scaled, diversified footprint across attractive end markets. This financing enhances IMT’s ability to accelerate growth and deliver on its long-term value creation strategy.”
Piper Sandler served as sole debt placement agent on the transaction.
