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AIC Ventures acquires Innovative Office products facility

AIC Ventures, a private real estate investment fund manager, has purchased an 85,000 square foot industrial facility from Easton, Pennsylvania‐based Innovative Office Products. Innovative Office Products is a portfolio company of Corridor Capital and is a manufacturer of customized, ergonomic, space‐saving mounting solutions for flat panel monitors, notebooks, tablet PCs and control panels.

PRESS RELEASE

AIC Ventures, a private real estate investment fund manager, has purchased an 85,000 square foot industrial facility from Easton, Pennsylvania‐based Innovative Office Products. Innovative Office Products is a portfolio company of Corridor Capital and is the leading manufacturer of customized, ergonomic, space‐saving mounting solutions for flat panel monitors, notebooks, tablet PCs and control panels. AIC Ventures closed the acquisition and simultaneously entered into a long‐term lease of the facility with the company.
“AIC is very pleased to have completed its first sale leaseback transaction with a portfolio company of Corridor Capital. We are proud of the long list of strong private equity firms who have chosen to work with us over the last two decades, and we strive to continue to be the most reliable sale leaseback capital provider in the country. After surveying the market, Corridor chose to consummate the transaction with us, and we believe that their decision is reflective of our reputation in the private equity world and competitive terms,” stated Luis F. Medina, Managing Director of Acquisitions at AIC.
Cameron Reilly, Principal of Corridor Capital, stated: “As we considered our financing options, we knew that a real estate sale leaseback would be an attractive component of the capitalization structure. We wanted a buyer that we could count on to complete the sale leaseback on market terms and with no surprises. AIC’s track record was excellent, so we put our trust in their team. They delivered on their promise of closing on time at the terms agreed upon in the commitment letter.”
About AIC Ventures
AIC Ventures is a leading provider of alternative capital to middle‐market companies via real estate sale leaseback transactions. With over $1.1 billion in completed transactions, AIC Ventures structures innovative corporate finance solutions for companies that need to strengthen their balance sheets, fund growth initiatives including acquisitions, fund succession planning and/or support other strategic initiatives. The company has closed 142 transactions in 30 states. For more information, visit www.aicventures.com.
About Innovative Office Products
Innovative Office Products is the leading manufacturer of ergonomic, space‐saving arms and mounts for flat panel monitors, notebooks and tablet PCs. Innovative specializes in custom manufacturing, choosing from a substantial database of mix‐and‐match parts to create custom solutions. Innovative’s products have met the needs of such demanding users as the New York Stock Exchange, NASA and IBM. For more information, visit www.LCDarms.com.
About Corridor Capital
Corridor Capital, LLC’s private equity strategy is to leverage its internal operating expertise and extensive network of executives to create value in control transactions in the lower middle market. Corridor works actively in partnership with its portfolio company management teams to create sustainable and scalable infrastructure and to grow organically and through acquisition. The firm focuses on companies in specialty manufacturing, business services and environmental services. Corridor is headquartered in Los Angeles, California. For more information, please visit www.corridorcapital.com.