Freestone Partners has teamed up with Patriot Capital to acquire ErgoGenesis from Independent Bankers Capital Fund. No financial terms were disclosed. Quarton Partners served as exclusive financial advisor to ErgoGenesis and IBCF in the transaction. Based in Navasota, Texas, ErgoGenesis is a maker and provider of ergonomic chairs and accessories.
BIRMINGHAM, Mich., Oct. 2, 2013 /PRNewswire/ — Quarton Partners is pleased to announce that Freestone Partners has partnered with Patriot Capital and management to acquire ErgoGenesis, LLC from Independent Bankers Capital Fund, L.P. (“IBCF”). Quarton Partners acted as the exclusive financial advisor to ErgoGenesis and IBCF in managing the sale process.
ErgoGenesis, LLC (www.ergogenesis.com), based in Navasota, Texas, manufactures and markets premium-priced, highly customizable, ergonomic chairs and a full line of ergonomic workspace accessories. The Company’s products are designed to enhance posture, alleviate pain and reduce stress on the musculoskeletal system. ErgoGenesis’ flagship seating brand is BodyBilt, which is considered the premium brand by end-users, including Fortune 1000 corporations, government agencies and individual consumers. BodyBilt’s premium reputation has been forged over the last 25 years as the Company led the industry in introducing a number of innovative solutions addressing the need for ergonomics, posture and pain relief.
Independent Bankers Capital Fund, L.P. (www.ibcfund.com) is headquartered in Dallas, Texas. IBCF focuses on mezzanine lending and equity investments in established middle-market companies, primarily in Texas. Established in 2000, IBCF’s investors are Texas-based independent community banks and financial institutions.
Freestone Partners (www.freestonepartners.com) is a private equity firm located in Houston, Texas. Freestone principally targets companies in manufacturing, distribution, and commercial and industrial services. The firm’s geographic focus for platform investments is the southwestern and southeastern United States.
Patriot Capital (www.patriot-capital.com) provides capital for change of control transactions, recapitalizations, acquisitions, refinancings and growth initiatives. Since 1999, the Patriot Capital Family of Funds has invested in over 92 middle market transactions and has over $550 million in assets under management. Patriot Capital maintains offices in Baltimore, Maryland; Chicago, Illinois and Dallas, Texas.
ABOUT QUARTON PARTNERS
Quarton Partners (www.quartonpartners.com), headquartered in Birmingham, Michigan, is a premier middle market investment banking firm, serving privately held and publicly traded companies, as well as private equity firms. Quarton Partners assists its clients with mergers and acquisitions, private capital raising, restructurings, valuations and other financial advisory services. Its principals have successfully completed hundreds of engagements in a variety of industries across the U.S. and throughout the world. Quarton Partners is an affiliate of Spearhead Capital, LLC.