Innovative Office Products Acquires CompuCaddy
Transaction Enables Company to Expand Its Reach Into Dynamic Healthcare Market
Innovative Office Products (IOP), parent company to HAT Contract and a leader in ergonomic monitor, tablet, sit-stand mounting products and height-adjustable desk solutions for the office market, announced today that it has acquired Louisville, Ky.-based CompuCaddy. A well-recognized brand within the healthcare industry, CompuCaddy is a manufacturer of medical computer carts, medical cart workstations, and other complementary products for medical and healthcare facilities.
“We are excited to add the CompuCaddy brand and its suite of high-quality product solutions to our Innovative family,” said IOP CEO Dave Fox. “Their approach to product design and manufacturing, made here in the U.S.A., along with a focus on exceptional customer service, nicely aligns to ours. We see tremendous potential for growth and a unique ability to meet the dynamic work product needs for healthcare and medical professionals.”
Innovative’s Chief Financial Officer Kevin McClelland will assume the dual role of President for the business. Patricia Moore, most recently serving as CompuCaddy’s President, will now serve as General Manager for the business, reporting to McClelland. CompuCaddy Owner Greg Linkins will remain engaged in a consulting role.
All CompuCaddy products designed and manufactured at the company’s Louisville location will maintain operations at that location. Innovative plans to hire a new sales leader and add to CompuCaddy’s existing sales force in the months ahead. The new sales leader will report to IOP’s General Manager, Vice President of Sales Jeff Wolber. CompuCaddy will continue to operate and remain under the CompuCaddy brand name for the immediate future.
More information about IOP, HAT Contract and CompuCaddy can be found at the following websites: IOP: innovativeworkspaces.com | HAT: hatcontract.com | CompuCaddy: compucaddy.com
Since 1993, CompuCaddy has been designing and manufacturing Mobile Computer Carts and Power Systems that fulfill all applications, ergonomic and budgetary requirements. CompuCaddy Mobile Computer Carts and Power Systems are designed for all working environments. By focusing our products on ergonomics, function, reliability and cost-effective design, CompuCaddy is the superior solution in today’s marketplace. By continuous investment in research, product development and design, our products are well built and well designed. They have been thoroughly tested for safety and superior cleaning and maintenance capabilities.
About Innovative/HAT Contract
Innovative/HAT Contract (www.innovativeworkspaces.com) is an award-winning designer and manufacturer of ergonomic products and accessories that improve health, wellness and productivity across a range of work
environments, including the office, healthcare and point-of-sale markets. The Company has over 150 employees working in the U.S. to design and assemble a majority of products in its Easton, PA headquarters. Innovative/ HAT Contract works closely with customers from start to finish, providing a range of high-quality products that exceed client expectations. In 2018, the Company acquired San Jose, CA.-based HAT Contract, a leading North American designer, contract manufacturer and distributor of office open space products including height-adjustable tables, power/data beams, drawer pedestals, dividers and electrical components for benching and bases. More information about HAT Contract can be found at www.hatcontract.com.
About Cathay Capital
Cathay Capital is a leading international private equity firm focused on cross-border investment and committed to supporting the international expansion of middle-market companies in North America, China and Europe. Cathay Capital’s team of nearly 90 professionals is based in New York, Shanghai, Beijing, Paris, Munich, Silicon Valley and Tel Aviv and leverages Cathay’s unique business model and platform to help create value for companies across three continents. As of today, with over $3.0 billion in assets under management across its funds, Cathay Capital has completed buyouts and growth capital investments in over 95 companies across three continents since its inception in 2007. Cathay Capital invests in middle-market companies in the consumer, healthcare, business and digital services, advanced industrial and technology industries. For more information, please visit http://www.cathay.fr/en/.