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PE-backed Mity acquires chairs manufacturer Holsag Canada

Mity Inc has acquired Holsag Canada, a Lindsay, Ontario maker of chairs and casegoods for the senior living, healthcare, education and hospitality markets. The purchase price was not disclosed. Mity, an Orem, Utah-based furniture products manufacturer, said the deal broadens its product offering and deepens the company’s presence in multiple industries. The acquisition was backed by US$16 million in funding provided by Prospect Capital Corp, a U.S. private debt and equity firm. Prospect is Mity’s controlling shareholder.

PRESS RELEASE

Mity Inc. Acquires Holsag Canada to Expand Newly Formed Healthcare Division and Broaden MityLite’s Product Offering

Global manufacturer of professionally designed, highly durable furniture products expands market footprint through strategic acquisition of Canadian company.

January 31, 2017

OREM, Utah–(BUSINESS WIRE)–Mity Inc., the MityLite parent company, today announced the acquisition of Holsag Canada, a privately owned manufacturer of chairs and casegoods focused on the senior living, healthcare, education, and hospitality markets. Mity will expand its footprint and product capability in the global commercial furniture marketplace through Holsag Canada’s strong North American healthcare presence. The acquisition aligns with Mity Inc.’s mission to deliver an exceptional customer experience and unsurpassed value through the design and manufacturing of industry-leading products across brands. The transfer of ownership was effective January 18, 2017.

“The acquisition of Holsag Canada fits perfectly into Mity Inc.’s strategic vision to be a multi-tiered, broad-based supplier of industry leading products across various sectors within targeted industries,” explained CEO and President of Mity Inc. John Dudash.

Mike Gregory, the President of Mity Inc.’s newly formed Healthcare Division, will oversee manufacturing and operations of Holsag Canada as well as sales into the healthcare market. Holsag sales outside of the healthcare market will be integrated into MityLite’s sales organization and significantly expand MityLite’s wood furniture product collections.

Holsag Canada CEO Bjorn Alfredsson stated, “We are pleased to be part of the Mity Inc. family. MityLite possesses complimentary product lines and brings additional resources and strategic vision that will aid Holsag’s continued growth for years to come.”

Headquartered in Orem, Utah, Mity Inc. is the parent company for MityLite, BRODA Seating, and now Holsag Canada. MityLite is a global manufacturer of award-winning, professionally designed, highly durable furniture products including: ABS, aluminum, laminate, plywood, and linen-less folding tables; restaurant tables; banquet, folding, stacking, and restaurant chairs; portable dance floors; staging; and partitions. BRODA delivers a unique line of tilt-in-space positioning wheelchairs that have been improving people’s lives for more than 35 years.

Holsag Canada is a manufacturer of chairs and casegoods focused on the senior living, healthcare, education and hospitality markets.

Contacts

LBR Communications, Inc., for MityLite
Lee Rech, 801-556-8423
lee@lbrcommunications.com
www.mitylite.com

Photo courtesy of Holsag Canada