TCF Capital Funding (TCFCF), a division of TCF National Bank which is a subsidiary of TCF Financial Corporation, announced that it increased its existing credit facilities to support  Innovative Office Products (“IOP”), a portfolio company owned by Corridor Capital (“Corridor”) in its acquisition of Ergotech Group (“Ergotech”).

Headquartered in Elmsford, NY, Ergotech is a manufacturer of multi-monitor desk stands that recently released its first electrically driven sit-stand workstation, the One Touch Free Stand.  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.  The combination also solidifies IOP as an innovative leader in the emerging sit-stand product category.

IOP, headquartered in Easton, PA, is a leading manufacturer of ergonomic mounting solutions for flat panel monitors, notebooks, tablets and control panels (www.lcdarms.com).  The Company has differentiated itself over time through both its innovative design capabilities and highly flexible offering of custom configured products. IOP offers more than 5,000 SKUs to a diverse base of blue chip customers that includes commercial furniture OEMs, IT and office equipment distributors and VAR’s, healthcare equipment OEM’s and other demanding niche end-markets such as education and financial services across the U.S. and international markets.

“We are excited to support an existing TCF Capital Funding portfolio company in this accretive acquisition.  The addition of Ergotech with IOP strengthens both businesses and also solidifies IOP as an innovative leader in the emerging sit-stand product category,” said TCF Capital Funding President Joe Gaffigan. 

“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 Managing Director, Cameron Reilly.

TCF Capital Funding provides cash flow and asset-based lending to lower middle-market businesses.  National in scope, this senior leveraged lending group focuses on providing private equity sponsor-backed cash flow loans and asset-based loans to companies with less than $100 million in revenue and between $2 million and $10 million in EBITDA.