Acquisition date: June 1, 2000
Disposition date: September 20, 2005
Executive, conference and task seating shipped in 48 hours
VIA, Inc. ("VIA"), a rapidly growing manufacturer of high quality office seating, established itself as the “quick ship” pioneer in the contract furniture industry in the United States. In an industry where 4-6 week and longer lead times are the norm, VIA successfully implemented its “Every chair, every option, every fabric, every leather, ready in 48 hours” strategy while simultaneously establishing itself as a leader in the design of ergonomic seating.
Clearview led a leveraged recapitalization of the company that allowed the company’s founder to remain the largest individual shareholder in the recapitalized company. The company's founder had a great desire to continue in his role as CEO but wanted an experienced partner to assist in the continued growth of the company. Clearview was able to structure a transaction that also allowed key members of management to acquire significant stakes in the company.
The VIA transaction closed on June 1, 2000. Clearview’s relationships with leading senior and subordinated debt lenders in the middle market allowed for a rapid closing on favorable terms. LaSalle Bank provided a senior term loan and revolving credit facility while Canterbury Mezzanine Capital provided subordinated debt.
Clearview sold VIA on September 20, 2005.