Los Angeles, CA – Innovative Office Products, LLC (“IOP”), a portfolio company owned by Corridor Capital, has acquired Ergotech Group (“Ergotech”). Both IOP and Ergotech design, manufacture and sell mounting solutions for flat panel monitors, notebooks and tablets.
Headquartered in Elmsford, New York, Ergotech is a manufacturer of multi-monitor desk stands and recently released its first electrically driven sit-stand workstation, the One Touch Free Stand.
We believe 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. The majority of Ergotech’s operations will be consolidated into IOP’s facility in Easton, PA. We are confident that the Ergotech business will benefit from improved supply chain management and a significantly more developed New Product Development capability. The combination also solidifies IOP as an innovative leader in the emerging sit- stand product category.
“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 CEO, Craig Enenstein.
“We’re excited to partner with a talented Ergotech team to capitalize on our highly complementary mix of products and customers,” said IOP CEO Joe Tosolt.
TCF National Bank provided debt financing for the transaction.