Freestone Partners, LLC today announced that it has acquired the assets of Navasota, Texas-based ErgoGenesis, LLC in partnership with management and Patriot Capital. ErgoGenesis is a manufacturer and marketer of premium-priced, highly customizable ergonomic chairs as well as 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. The company’s flagship seating brand, BodyBilt, is considered the premium brand in the ergonomic chair market by end users including a substantial portion of 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 by introducing numerous innovative solutions to increase workplace productivity through improved ergonomics, posture and pain management. For additional information about ErgoGenesis, please visit www.ergogenesis.com.
ErgoGenesis will continue to be led by its current long- tenured management team including Bernie Lynch who has been named President and Chief Executive Officer of the newly formed operating company, ErgoGenesis Workplace Solutions, LLC. In addition, Tony Gerbino, a long time and trusted advisor to Freestone’s portfolio companies and a current board member of Cyclone Steel, will be joining the company as Chairman and playing an active role in driving the company’s strategy and growth in the coming years.
“We are elated to partner with management and Patriot in the acquisition of ErgoGenesis. This is a company that we have known for many years, and we look forward to working with a fantastic group that includes Bernie, his core management team and Tony to continue the process of building ErgoGenesis and furthering its leading position in the ergonomic seating and workplace accessories market,” said Mark Leyerle, a founding partner of Freestone Partners.
Patriot Capital, a Baltimore, MD-based SBIC with offices in Chicago and Dallas, provided subordinated debt and equity capital from its newly raised $250 million fund. “This is our first transaction in Fund III and originated through our Dallas office. It was a delight to work with Mark Leyerle and the Freestone team, management at ErgoGenesis, and Ryan Hightower at Amegy Bank in completing this bellweather transaction for Patriot,” said Patrick Hamner, Managing Director of Patriot Capital. ErgoGenesis was represented by the financial advisory firm Quarton Partners of Birmingham, Michigan.
Headquartered in Houston, Texas, Freestone Partners invests in companies with $10 to $50 million in annual revenue with potential for substantial growth. Freestone seeks to partner with management teams and/or selling owners to help small to medium-sized businesses achieve their growth goals. Freestone’s investment philosophy states that value is created by focusing on a few fundamentals: a sound investment process, solid management, viable business strategies, and outstanding operating execution. We value more than the transaction – we value the people involved.