FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / Press Releases / Read Press Release


TCF Capital Funding Supports Cathay Capital, Innovative Office Products’ in Acquisition of HAT

September 04, 2018, 07:00 AM
Filed Under:

TCF Capital Funding, a division of TCF National Bank which is a subsidiary of TCF Financial Corporation (TCF) announced that it provided secured financing to support Cathay Capital Private Equity (Cathay Capital) and its portfolio company Innovative Office Products in its acquisition of HAT Contract (HAT). In addition to Cathay Capital, the shareholders of Innovative include senior members of management, Norwest Mezzanine Partners and ORIX Mezzanine & Private Equity.

Innovative is an award-winning, North American designer and manufacturer of office/workspace ergonomic and related 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 designs, develops and assembles products in the U.S. and sells into multiple markets including corporate offices, retailers, hospitality providers, hospitals and other healthcare providers, and to the government.

Founded in 2013, and based in San Jose, CA, HAT is a leading North American designer, contract manufacturer and distributor of office ergonomic products including height adjustable tables, power/data beams, drawer pedestals, dividers, work surfaces and electrical components for benching and bases. HAT’s products are known for the health benefits associated with height adjustability, and the company provides a unique combination of quality lines, exceptional service and value.

“We are excited to provide additional financing to support Cathay Capital’s and Innovative’s strategic plan through the acquisition of HAT,” said Kevin Nowak, TCF Capital Funding Senior Vice President. “Innovative and HAT have built strong brands by providing quality ergonomic solutions across many markets and we believe this partnership will result in accelerated global expansion of the Company.”

Week's News

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.