EASTON, PA. – Feb. 10, 2020 – 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 office, healthcare and other specialty workspaces, announced today that it has acquired SiS Ergo. Founded and headquartered in Denmark, SiS Ergo is a manufacturing pioneer of height adjustable tables. Since introducing the first height adjustable desk in 1970, SiS Ergo today manufactures ergonomic electric and non-electric height adjustable tables and accessory products for a broad range of workplace ergonomic needs. SiS Ergo products are known for their Danish-inspired modern and minimalistic aesthetic, superior functionality, unique customization options and expert craftsmanship.
The acquisition of the SiS Ergo brand and its suite of products provides a strong complement to IOP’s existing line of HAT-branded ergonomic office products and immediately creates a broader and more diverse product offering to the market. It also expands IOP’s international footprint with advanced manufacturing capabilities in Denmark and increases sales capabilities across Europe, China and Southeast Asia.
“With the addition of SiS Ergo and its Danish design roots, we have a truly unique and inspiring product solution for the contract marketplace,” said IOP CEO Dave Fox. “What’s more, SiS Ergo’s ability to offer customized product solutions, short lead times and first-rate customer service aligns perfectly to our existing business approach. We are excited to have SiS Ergo as part of our Innovative Office Products family.”
“It is apparent that our companies share a passion for innovative design, product quality and exceptional customer service,” said SiS Ergo Principal Owner Claus Hansson. “We’re looking forward to leveraging our expertise in customized solutions and Danish aesthetics with the additional resources from IOP. We see tremendous opportunities to accelerate the business and meet the continued needs of the marketplace globally.”
Under the terms of the transaction, Hansson will now report to Fox. SiS Ergo President Scott McPartlin will report jointly to Fox and IOP General Manager, Vice President of Sales Jeff Wolber. The SiS Ergo brand name will remain, as will its manufacturing operations in Denmark. In the U.S., SiS Ergo will maintain its headquarters in Londonderry, N.H., continuing to serve its customers through its current sales force.
Additionally, both Hansson and McPartlin will become minority shareholders of IOP’s holding company, joining a private equity consortium led by Cathay Capital along with IOP management team shareholders.
“We are thrilled to welcome Claus and Scott to the IOP family. The addition of SiS Ergo will allow us to serve a much broader customer base within existing and new markets. We are looking forward to IOP’s expanded market position given its comprehensive product and service range that addresses ergonomic needs across the office, healthcare and specialty workspace environments,” said Mark Woods, Partner and Head of North American Private Equity at Cathay Capital.
Mingpo Cai, Founder and President of Cathay Capital, commented, “We are excited to partner with the talented team at SiS Ergo, as they will help further fuel IOP’s international expansion strategy in Europe, China and Southeast Asia while deepening our presence in North America.”
More information about IOP, HAT Contract and SiS Ergo can be found at the following websites:
IOP: innovativeworkspaces.com | HAT: hatcontract.com | SiS Ergo: sisergo.com
About SiS Ergo
Dating back to 1966, SiS Ergo represents a world of innovative ergonomic products. For over 50 years, SiS Ergo has been a pioneer in design and manufacturing of ergonomic solutions for all work environments. Using Danish craftsmanship and the design concepts of simplicity and functionality, SiS Ergo products can be seamlessly integrated into any type of workspace. As a company, we are constantly reinventing and improving upon our designs to provide the best solutions for the ever-changing economic, environmental and ergonomic needs of today's workplace. Research has shown the multiple health benefits of sit-to-stand desks. SiS Ergo is proud to work with companies that are mindful of the well-being of their employees while providing energized and flexible spaces for maximum productivity. More information can be found at www.sisergo.com.
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 200 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. Connect with us on social media at: Facebook, LinkedIn, Instagram and Twitter.
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 growing, middle-market companies in North America, China and Europe. Cathay’s team of 100+ professionals is based in New York, Shanghai, Beijing, Paris, Munich, Silicon Valley, Singapore 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 $3.9 billion in assets under management across its private equity and venture capital funds, Cathay has completed buyouts and growth capital investments in over 100 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/.
Libby Ferin Mark Woods
Vice President, Marketing Partner, Head of North American Private Equity
Innovative Cathay Capital
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