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A unique global investment platform with worldwide cross-border resources

cathay capital

An investement platform operating on
3 continents and 7 offices

Testimonials

  • cathay capital innovation« The close involvement of the Cathay Capital team with our activities allowed us to pursue our growth at a sustained level and to reach a higher level in terms of our international development, particularly in Asia. »

    Alexandre Crazover,
    Datawords

  • cathay capital innovation« By acting as a trusted shareholder, Cathay Capital has helped to strengthen mutual understanding and to secure our relationships with French partners. Thanks to Cathay Capital’s valuable role, Suofeiya today represents a real success story, which has successfully completed its IPO and continues to push forward its development with dynamism. »

    Ke Jiansheng,
    Suofeiya

  • cathay capital innovation« The strategic positioning of Cabio is to become an invisible champion of the niche market for high-end food ingredients based on highly effective biological technology. Cathay Capital has extensive resources and practical experience in the cross-border investment field and food industry, which will provide a strong support for Cabio`s development, »

    Dewei Yi,
    Founder and President of Cabio

News

  • Kayrros Secures $24M in Series B Funding to Expand Energy Market Penetration New funding deepens the company’s crude oil market intelligence and expands its coverage across other energy markets that include petroleum products, natural gas, and power generation. Read more

    Kayrros Secures $24M in Series B Funding to Expand Energy Market Penetration

     Kayrros Secures $24M in Series B Funding to Expand Energy Market Penetration

    New funding deepens the company’s crude oil market intelligence and expands its coverage across other energy markets that include petroleum products, natural gas, and power generation

    PARIS, 18 September 2018 – Kayrros, the leading advanced data analytics firm, today announced that it has raised €21 million ($24.4 million) in Series B funding led by Cathay Innovation and backed by private investors including Index Ventures, AtlasInvest (the investment company under the lead of Marcel van Poecke), the Primat Family Office (Primwest), and Korelya Capital. Kayrros has now raised a total of €32 million ($37 million) from all funding rounds.

    Kayrros captures and analyzes data across the energy sector using innovative technologies that include satellite imagery, natural language processing, Internet of Things, and machine learning. Combining technology with in-house energy expertise, Kayrros provides accurate and timely information on global market movements to help customers make more informed trading, investment, and operational decisions.

    Kayrros has already established itself as a global leader in providing crude oil intelligence. The latest round of funding will allow Kayrros to further strengthen its coverage of the global crude oil value chain from production and storage through transport and consumption. Kayrros expects to bring new granularity across energy markets, and expand to other sectors including petroleum products, power generation, natural gas, and renewables.

    “We are pleased to have secured our Series B funding as well as the confidence and backing of Cathay Innovation,” said Antoine Rostand, president and co-founder of Kayrros. “As we continue to rapidly grow, we look forward to developing our product offering and extending the leadership we have built with our unique crude oil intelligence to the complete energy market, from demand for diesel fuel in

    India to production of lithium in Chile.”

    Jacky Abitbol, partner at Cathay Innovation, added: “We are very proud to support Kayrros write a new page in its success story. In addition to the strength of its management, we believe that Kayrros has tremendous growth potential as a global company. We know Kayrros’ industry quite well given our existing partnerships in the energy sector. We look forward to supporting the Kayrros team through our platform bridging Europe, Asia and North America.”

    Since 2016, Kayrros has steadily carved a niche for itself as a cutting-edge data analytics firm in the energy sector and expanded its team from 8 to 100 engineers and scientists — strengthening its expertise in energy and data science, IT, petroleum engineering, sales, and marketing. Kayrros raised €9 million in Series A funding in January 2017 led by Index Ventures, allowing the company to attract some of the largest energy trading companies as customers and rapidly increase its global presence with new offices in Houston, London, and Singapore.

    “The Kayrros team is led by some of the most experienced executives from the energy and technology industries,” said Dominique Vidal, partner at Index Ventures. “It has already brought an unprecedented level of transparency to the energy sector through its proprietary data sets. For the first time ever,

    companies can make reliable assessments and predictions about the world’s supply and demand for energy. It is therefore no surprise that Kayrros has already signed up customers who represent half of the world’s crude oil trading volume.”

    Paul Degueuse, partner at Korelya Capital, also commented: “Kayrros has already radically enhanced data accessibility across the energy sector, and we at Korelya Capital are eager to support them as they expand to East Asia.”

     

    About Kayrros

    Kayrros is the leading advanced data analytics company that helps global energy market players make better investment decisions. Kayrros experts extract value from the integration of alternative and market data into unique product offerings across the energy chain. With more than 100 employees representing over 15 nationalities working from headquarters in Paris and offices in Houston, London, New York and Singapore, Kayrros delivers actionable information in near real-time using cutting-edge technologies. Kayrros solutions are rapidly scalable and continually expanded to new geographies and new sources of data that help provide greater transparency into energy markets worldwide. For more information, please visit www.kayrros.com.

    About Cathay Innovation

    Cathay Innovation is a global venture capital fund, created in affiliation with Cathay Capital Private Equity. It was founded around the shared conviction that supporting digital entrepreneurs by providing them with a platform bridging 3 continents – North America, Europe and China – constitutes a particularly powerful value-creation strategy. As a multi-stage fund, Cathay Innovation partners with visionary entrepreneurs, committed to driving change through technology. Such transformation is accelerated by leveraging Cathay Capital Private Equity's extensive network with corporates and solid experience in operational excellence. Cathay Innovation has offices in San Francisco, Paris, Beijing and Shanghai. To learn more, please visit www.cathayinnovation.com or follow us on Twitter @Cathayinnov.

    Media Contacts

    For Kayrros: Simone Pugliese, +33 (0)6 33 22 58 42, s.pugliese@kayrros.com For Cathay Innovation:

    Laurence Duhamel, +33 (0)7 60 90 89 18, laurence.duhamel@citigatedewerogerson.com

    Yoann Besse, +33 (0)1 53 32 78 89, yoann.besse@citigatedewerogerson.com

  • Official listing on Nasdaq of Cathay Innovation’s portfolio company Pinduoduo for a market value of USD 24bn On July 26, 2018, Pinduoduo rang the opening bell simultaneously in Shanghai and New York, and was officially listed on the Nasdaq stock exchange. Read more

    Official listing on Nasdaq of Cathay Innovation’s portfolio company Pinduoduo for a market value of USD 24bn

    Official listing on Nasdaq of Cathay Innovation’s

    portfolio company Pinduoduo for a market value of USD 24bn

    On July 26, 2018, Pinduoduo rang the opening bell simultaneously in Shanghai and New York, and was officially listed on the Nasdaq stock exchange, with a share price of USD 19 and a market value of USD 24bn. For the first time in history, the Nasdaq sent the beating bell button to Shanghai to welcome the fastest listing for a Chinese internet company. As a matter of fact, it took Pinduoduo only 2 years and 11 months from its creation in September 2015 to land on Nasdaq.     

    Such a fast outcome is justified by meteoric rise of the metrics of the company. As of June 31, 2018, PDD’s active users had reached 344 million in 12 months. In Q2 2018, the average MAU reached 195 million, which is a 17% increase compared to Q1 2018. Still as of June 31, 2018, PDD’s GMV had reached RMB 262.1bn and the average consumption per active user had increased from RMB 674 to RMB 763 in 12 months. In addition, the revenue of the PDD platform continued to maintain a rapid growth.

    Such a steep growth in the field of  commerce has never been seen in the history of the internet and humanity. It is worth mentioning that it took PDD’s GMV only 2 years to pass the 100 billion threshold while it took JD.com 15 years and Taobao 5 years. 

    Also, the bulk of the buyers are Chinese from Tier 3 and Tier 4 cities in China, who were not actively buying online because the offer hadn’t really satisfied their needs. Pinduoduo managed to make hundreds of millions of people enjoy the benefits of the digital commerce in a way at the same time more fun and economically attractive.

    As a non-traditional company that combines material and spiritual consumptions, PDD is committed to becoming a combination of Costco and Disney. According to customers, the company sells “excellent products at a fair price” through the ultimate compression of the supply chain connecting customers directly with manufacturers. As for manufacturers, they think the model of “small SKU, high volume, blockbuster” is the best option to transform and upgrade traditional factories. In the past three years, PDD has added nearly 1,000 factory brands to its platform.

    “The biggest value of PDD is to offer new solutions to the e-commerce industry. Its model has a strong potential of replication so we are confident that PDD will become an international company, the same way as Costco became the second largest retailer in the world. It is the first time in the history of China's internet development that a business model like PDD was created and we are very pleased that Cathay Innovation is part of this success story”, said Mingpo CAI, Founder and President of Cathay.

    Cathay Innovation has been an investor in the company very early on as it invested in PDD’s Series B round in 2016. 

  • Glovo closes 115M€ Series C Funding Round Glovo closes 115M€ Series C Funding Round to strengthen its growth and become the most relevant technology hub in Southern Europe. Read more

    Glovo closes 115M€ Series C Funding Round

    Glovo closes 115M€ Series C Funding Round to strengthen its growth and become the most relevant technology hub in Southern Europe

     

    • The startup is heading in its ambition to optimize the platform and offer a better service to riders, users and stores. With this goal, the company plans to hire more than 100 engineers
    • Niall Wass, former SVP, EMEA & APAC at Uber, and current Glovo advisor, has been nominated Chairman of the Board. His vast experience will help Glovo consolidate its position in the operating countries and continue with its international expansion
    • The firms Rakuten, Seaya and Cathay Innovation reaffirm their commitment to Glovo’s business model in this Series C, which includes new investors such as AmRest, one of largest companies in the restaurant sector, the European funds Idinvest Partners and GR Capital, as well as other minor investors

    Barcelona, ​July 18th, 2018.- The technological platform Glovo strengthens its business model with the entry of 115 million Euros in a Series C round from the international companies Rakuten, Seaya and Cathay Innovation, which already invested in Series B; AmRest, the largest publicly listed restaurant operator in Central Europe, the European funds Idinvest Partners and GR Capital, and other minor investments. This new injection of funding will allow the startup to continue investing in optimizing the platform and its technological resources in order to improve the service to riders, users and associated stores. The company will increase its tech team with the hiring of more than 100 engineers in the coming months with the aim of becoming the most relevant technology hub in Southern Europe.

    The opening of 6 countries and 20 cities around the world in just three months demonstrates Glovo’s priority to grow and consolidate its business worldwide, focusing on Latin America and EMEA areas (Europe, the Middle East and Africa). In Spain Glovo already operates in more than 21 cities, while worldwide, its presence expands to 61 cities in 17 countries.

    Founded in Barcelona in January 2015, Glovo has revolutionized the way people in the cities consume, giving them the possibility to ask for what they want, whenever and wherever they want, taking their city in their pocket.

    The rapid growth and consolidation of Glovo have highlighted the company's enormous potential. Therefore, in this new series the prestigious Japanese company Rakuten, sponsor of FC Barcelona, the global venture capital fund Cathay Innovation and the Spanish fund Seaya Ventures are still present. They believe in Glovo’s innovative business model and seek to promote its development. AmRest is one of the new investors that enter the shareholding of the Barcelona startup. AmRest controls over 1,650 restaurants in more than 16 countries with brands such as KFC, La Tagliatella, Pizza Hut, Starbucks and Burger King, Blue Frog and KABB. This investment of 115 million Euros positions Glovo as one of the Spanish companies receiving the largest investment in 2018.

    "We are very happy with this new injection of liquidity that will allow us to continue growing at an accelerated rate,” said Oscar Pierre, CRO and co-founder of Glovo. “My main priority is to invest in increasing our tech team to continue optimizing the platform and offer the best service in the sector to our three main axes: riders, users and stores and become their reference delivery app."

    Besides, the company has gained a great exceptional active with the nomination of Niall Wass as Chairman. Wass, former SVP, EMEA & APAC at Uber, has been working for Glovo as advisor for the last year, helping the company with its expansion strategy.

    Latham & Watkins, international law firm, has advised Glovo in this funding round. 

    About Glovo

    Glovo is an app that allows you to buy, collect and send any product within the same city at a time. It has more than 1 million users and 5,600 associated partners. In Spain, the service is available in the urban areas of 21 cities, among them are Barcelona, ​​Madrid, Valencia, Zaragoza or Seville. Internationally, Glovo operates in the main capital cities in Europe and EMEA, as Rome, Paris, Istanbul or Casablanca and also in 9 countries of LATAM, as Brazil, Argentina or Panama. Currently Glovo is already in 61 cities of 17 countries throughout the world and it’s expected to expand and open its business to new cities in the coming weeks.

    For additional information:

    Adelaida Chinchilla / Rocío Carasso

    a.chinchilla@romanyasociados.es

    r.carasso@romanyasociados.es                 

    93.414.23.40 / 648 50 37 39

     

    About Rakuten Capital

    Rakuten Capital is a corporate venture capital group that provides funding, sector experience and operational support to its portfolio companies across the world. Rakuten Capital is part of the RakutenGroup (TSE: 4755), one of the world’s leading internet service companies headquartered in Tokyo with operations in Asia, Europe and the Americas. Rakuten has built and invested in innovative internet businesses in e-commerce, financial services, digital content and advertising since 1997. For more information visit: https://capital.rakuten.com

    About Seaya Ventures

    Seaya Ventures is a Venture Capital fund with €160M assets under management. Seaya invests in early and growth stage Internet and technology-enabled businesses in Spain and Latin America, supporting them in their expansion and growth to become regional and global leaders. Seaya, founded in 2013, has invested through two funds, Seaya I and Seaya II, in 17 companies, among which are Cabify, Glovo, Spotahome or Yogome. For more information visit: https://seayaventures.com/newsroom/

    About Cathay Innovation

    Cathay Innovation is a global venture capital fund, created in affiliation with Cathay Capital Private Equity. It was founded around the shared conviction that supporting digital entrepreneurs by providing them with a platform bridging 3 continents – North America, Europe and China – constitutes a particularly powerful value-creation strategy. As a multi-stage fund, Cathay Innovation partners with visionary entrepreneurs, committed to driving change through technology. Such transformation is accelerated by leveraging Cathay Capital Private Equity's extensive network with corporates and solid experience in operational excellence. Cathay Innovation has offices in San Francisco, Paris, Beijing and Shanghai. To learn more, please visit www.cathayinnovation.com or follow us on Twitter @Cathayinnov.

    About AmRest Holdings SE

    AmRest Holdings SE is the largest publicly listed restaurant company in Central and Eastern Europe. AmRest runs the following partnerships: KFC, Pizza Hut, Starbucks i Burger King, and is the owner of supreme La Tagiatella brand and two Chinese concepts: Blue Frog i KABB. Currently Partnership controls over 1650 restaurants in the segment of Quick Service Restaurants and Casual Dining Restaurants (with waiter service) in 16 countries: Poland, Czech Republic, Slovakia, Hungary, Romania, Bulgaria, Serbia, Croatia, Slovenia, Austria, Russia, Spain, Portugal, France, Germany, and China. More information available on the webpage: www.amrest.eu/en

  • Cathay Capital completed the first closing of Cathay Midcap II at 600m euros Cathay Capital is pleased to announce that it has held a first close on 600m euros on its Cathay Midcap II, which is targeting 1.2bn euros. Read more

    Cathay Capital completed the first closing of Cathay Midcap II at 600m euros

    Cathay Capital completed the first closing of Cathay Midcap II at 600m euros

     

    Paris, 16 July 2018

    (Updated on 6 August 2018)

    Cathay Capital is pleased to announce that it has held a first close at EUR 600 million on its fund Cathay Midcap II, which is targeting EUR 1.2 billion. The fund is backed by Cathay’s historical cornerstone Limited Partners (LPs), China Development Bank (CDB) and Bpifrance, and a mix of sovereign funds, institutional investors and family offices. Cathay Midcap II is also the first fund invested in by the European Investment Fund (EIF) and the Silk Road Fund (SRF), which signed a Memorandum of Understanding at the EU-China Summit in Beijing in July to confirm the first co-investment under the China-EU Co-investment Fund (CECIF) programme. This programme was established by the EIF and SRF with the aim of developing synergies between the Belt and Road Initiative and the Investment Plan for Europe.

    The Fund was officially launched at the beginning of this year with the signing of a tripartite Memorandum of Understanding between CDB, Bpifrance and Cathay Capital, during French President Macron’s official visit in China. Thanks to Cathay Capital’s successful investment strategy and track record, the first closing of Cathay Midcap II was completed within a few months.

    Following the strategy of its predecessor fund, Cathay Midcap II will support mid-cap companies with a high potential for growth and value creation as well as a capability to expand internationally. This new investment vehicle will continue to focus on its core geographies – China, Europe (mainly France and Germany), and to a smaller extent North America. Targeted sectors will include those with high cross-border synergies between China and the West that stand out in terms of sustainable growth potential, such as healthcare, high-end industries, consumer goods and business services.

    Jyrki Katainen, European Commission Vice-President, responsible for Jobs, Growth, Investment and Competitiveness, said: “We have been working towards this moment since we set up the EU-China working group in 2015 at the High Level Economic and Trade Dialogue in Beijing. I am very pleased that we are now seeing the fruits of that labour and that the Cathay Midcap fund will finance European and Chinese high potential mid-cap businesses in strategically important sectors. This is a very good example of how private and public investors can work together.”

    Pier Luigi Gilibert, EIF Chief Executive, said: “This first investment under the EU China co-investment fund adds another dimension to the financing approach for small businesses in Europe. Investing in SMEs helps to grow economies and offer employment opportunities and this new partnership with Cathay Capital will be instrumental in boosting finance for European companies.”

    Mingpo Cai, President and founder of Cathay Capital, said: "This new investment vehicle will leverage Cathay Capital’s expertise accumulated over the past decade to help hidden champions in their international acceleration to become world-class leaders and to create superior returns for investors. We thank our historical LPs for their continued support and trust, and welcome new LPs in joining the Cathay ecosystem."

    Cathay Midcap II is expected to commence investing in the second half of 2018 and complete its final closing by the first half of 2019.

    ***********************************

    Press Contact for Cathay Capital 

    Yoann Besse, Citigate Dewe Rogerson

    yoann.besse@citigatedewerogerson.com – Tel: +33 (0)1 53 32 78 89 / +33 (0)6 63 03 84 91

    Press Contact for EIF:

    David Yormesor

    d.yormesor@eif.org - Tel: +352 42 66 88 346

    ***********************************

    About Bpifrance

    Bpifrance, the French public investment bank, has the ambition to help businesses, ranging from start-ups to medium-sized companies, and occasionally large companies, to innovate, invest, grow and export. By sharing the risks with its private and public partners, Bpifrance provides a continuum of financing, from short-term credits to equity capital. More info: www.bpifrance.fr – Follow us on Twitter: @Bpifrance - @BpifrancePresse

    About China Development Bank

    China Development Bank (CDB) was founded in 1994 as a policy financial institution under the direct leadership of the State Council. It was incorporated as China Development Bank Corporation in December 2008, and officially defined by the State Council as a development finance institution in March 2015. CDB provides medium to long-term financing facilities that serve China’s major long-term economic and social development strategies. CDB is the world’s largest development finance institution, and the largest Chinese bank for foreign investment and financing cooperation, long-term lending and bond issuance.

    About European Investment Fund

    European Investment Fund is part of European Investment Bank Group. Its central mission is to support Europe’s micro, small and medium-sized business (SMEs) by helping them to access finance. European Investment Fund designs and develops venture and growth capital, guarantees and micro-finance instruments which specifically target this market segment. In this role, European Investment Fund fosters EU objectives in support of innovation, research and development, entrepreneurship, growth, and employment. European Investment Fund implements the SME Window under the investment Plan for Europe.

    About European Fund for Strategic Investment

    The Investment Plan for Europe, the Juncker Plan, is one of the EU´s top priorities to boost investments and to create jobs and growth by removing obstacles to investment, providing visibility and technical assistance to investment projects, and making smarter use of existing and new financial resources. With guarantees from the European Fund for Strategic Investments (EFSI), the EIB and EIF are able to take on a higher share of project risk, encouraging private investors to participate in the projects. The European Parliament and Member States agreed in December 2017 to extend EFSI's duration and increase its financial capacity. As of July 2018, the Juncker Plan is set to trigger more than EUR 335 billion in investment across the EU, exceeding its original target to mobilize EUR 315 billion by July 2018.

    About Silk Road Fund

    Silk Road Fund is a market-oriented, international and professional medium to long-term development and investment institution. It invests in a broad spectrum of sectors under the framework of the “Belt and Road” initiative including infrastructure, energy resources, industrial capacity cooperation and financial cooperation.

    About Cathay Capital

    Cathay Capital Private Equity 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. The firm's team of over 70 professionals is based in New York, Shanghai, Beijing, Paris, Munich, San Francisco and Tel Aviv and leverages its unique business model and platform to create value for companies across three continents. With $2.5 billion in assets under management, Cathay Capital Private Equity has completed over 90 buyouts and growth capital investments across three continents since its inception in 2007. Cathay Capital Private Equity invests in and assists middle-market companies in the consumer goods and services, healthcare, business services and technology industries.

  • Cathay Portfolio Company, Innovative Office Products, Acquires HAT Contract The portfolio company of Cathay Capital North American-Sino Fund - Innovative Office Products, LLC (“Innovative” or the “Company”) has completed the acquisition of HAT Contract. Read more

    Cathay Portfolio Company, Innovative Office Products, Acquires HAT Contract

      Cathay Portfolio Company, Innovative Office Products, Acquires HAT Contract

     

    New York,  June 8, 2018

    Cathay Capital North American-Sino Fund (“Cathay Capital”) is pleased to announce that its portfolio company, Innovative Office Products, LLC (“Innovative” or the “Company”) (www.innovativeworkspaces.com), has completed the acquisition of HAT Contract (“HAT”) (www.hatcontract.com), a San Jose, CA-based, 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 Founders, Brian McNay and Tony Glaves, will continue to manage the HAT business and have also become shareholders of Innovative.

    Founded in 2013, HAT was created by Messrs. McNay and Glaves after significant experiences as furniture dealers and in other related industries. The height adjustable segment of the office furniture market is benefiting from strong tailwinds as today’s offices are being reshaped by the introduction of ergonomic and innovative office productivity solutions. HAT products are exceptionally recognized in the contract office marketplace as an accelerator of the movement towards open office environments. 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.

    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 is a leading force in the global furniture and related accessories industry. Based in Easton, PA, Innovative began as a family-owned operation in 1986 and has grown into a global company over the past 30 years. 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. Currently, Innovative serves North America, Europe (through its Copenhagen office) and Australia.

    In addition to Cathay, the shareholders of Innovative include senior members of management, Norwest Mezzanine Partners (“Norwest” or “NMP”) and ORIX Mezzanine & Private Equity (“ORIX”). 

    Cathay’s cross-border strategy focuses on providing access for its North American portfolio companies to resources and networks in China and Europe to establish sales relationships, improve operating and sourcing capabilities, and to enhance the strategic capabilities of portfolio companies in key global markets. Additionally, Cathay helps strengthen client and strategic relations throughout its own offices in China, Europe and other parts of the world. Innovative, now along with the HAT team, has the desire to cross sell its broad Innovative and HAT lines of products and more rapidly expand globally given the appeal of ergonomics and specialty-mounting products across markets. Cathay’s successful experience with Germantown, WI-based Raffel Systems (www.raffel.com), a leader in the furniture motion controls industry, originally paved the way for Innovative to seek out Cathay’s unique cross-border strategy.

    “The office furniture industry has been growing in a very healthy fashion in North America as an increasing percentage of professionals and employers continue to focus on ergonomics and smart office products that enhance workplace health and wellness while improving employee productivity. Cathay Capital’s North America, China and Europe teams are so excited to work with Innovative and the HAT team to accelerate the combined Company’s growth” said Mingpo Cai, Founder and President of Cathay Capital. “We are thrilled to partner with Brian and Tony to fuel the rapid expansion of this powerful new entity over the coming years through organic growth. This add-on investment further helps us execute on our strategy for helping forward-thinking North American companies identify and realize cross-border opportunities in China and Europe - where Cathay has an extensive footprint and ecosystem” said Mark Woods and David Hoffman, Partners with Cathay Capital.

    On behalf of the Innovative management team, CEO David Fox said, “We are delighted to have HAT become a part of our family and are so excited to work with Brian and Tony and their team with this transformative combination of brands and resources. Our strategic visions are perfectly aligned and we are excited to achieve dynamic growth on multiple continents as we plan to continue to develop innovative ergonomic and mounting solutions together to satisfy expanding demand for products that improve health, wellness and productivity.”

    “We founded HAT with the vision of delivering next-generation workspace ergonomic solutions to businesses of all sizes and in all industry segments, helping them achieve smart and efficient workplace transformations,” said Brian McNay, HAT co-Founder. “We are excited to join Innovative and bring product enhanced solutions for the open office environment and ergonomics solutions to many global customers in all markets.”

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