Ergotron Acquisition, Valuation, Funding & Investors

Ergotron was acquired by The Sterling Group for $650M in June 2022.

Ergotron acquisition price

$650M

Acquired by The Sterling Group · Jun 2022

Ergotron EBITDA multiple at acquisition

8.3x

EV/EBITDA · Jun 2022

Cumulative funding Ergotron raised

$288M

across 1 funding round

Key investors in Ergotron

  • The Sterling Group

Ergotron Overview

About Ergotron

Ergotron is a St. Paul-headquartered manufacturer of display mounting and mobility products founded in 1985. Via www.ergotron.com, it offers LX and HX desk mounts, wall arms, and LearnFit standing desks supporting screens up to 49 inches and 42 pounds. Deployed in healthcare like Mayo Clinic, education at universities, and offices worldwide, products feature patented Constant Force technology for smooth adjustments. With global distribution in over 100 countries, it maintains ISO 9001 certification and serves Fortune 500 clients.


Founded

1982

HQ

United StatesSaint Paul, MN

Status

Acquired

Customer focus

B2B

Revenue model

Product sales

Valuation

$650M (Jul 2022)

Ergotron Acquisition

Ergotron was acquired by The Sterling Group for $650M on 6 June 2022.

The acquisition price implies a 8.3x EBITDA multiple.

Before the acquisition Ergotron had raised $288M across 1 funding round.

Ergotron, Inc., headquartered in St. Paul, Minnesota, is a leading designer, manufacturer, and distributor of ergonomic products for healthcare, workspace, industrial, and education settings, including sit-to-stand desks and fixtures sold to healthcare, government, and consumer markets. On June 6, 2022, Melrose Industries PLC agreed to sell Ergotron to funds managed by The Sterling Group, a Houston-based private equity firm focused on manufacturing and industrial services companies with typical enterprise values of $100-750 million, for total cash consideration of approximately $650 million. The transaction completed on July 7, 2022, marking the final divestiture in Melrose's Nortek ownership cycle, during which it more than doubled its equity investment. Sterling highlighted Ergotron's strong market position and alignment with its employee-focused investment approach, planning to support management in accelerating growth. The deal was advised by Baird as exclusive financial advisor to Ergotron. Sterling has sponsored 62-63 platform companies with over $14 billion in total transaction value, including many corporate carve-outs like Ergotron from Melrose.

Ergotron acquisition details
AcquirerDateTypePriceEV/EBITDA
  • The Sterling Group
6 Jun 2022PE buyout$650M8.3x

Ergotron Valuation

Ergotron is currently valued at $650M, based on its undisclosed-stage round in July 2022.

The $288M round was led by The Sterling Group.

Ergotron valuation by funding round

Ergotron valuation by funding round
DateStageValuation
Jul 2022Undisclosed stage$650M

Ergotron Funding History

Ergotron has raised a total of $288M across 1 funding round.

Ergotron funding rounds

Ergotron funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jul 2022Undisclosed stageThe Sterling Group (lead)$288M$650MErgotron, Inc., headquartered in St. Paul, Minnesota, is a leading designer, manufacturer, and distributor of ergonomic products including sit-stand workstations, mounts, and lifts for healthcare, workspace, industrial, and education settings. The company has a 40-year history with over 200 patents and brands like WorkFit and CareFit utilizing Constant Force and LiFeKinnex technologies, operating across North America, EMEA, and Asia Pacific. On June 6, 2022, Melrose Industries PLC agreed to sell Ergotron to funds managed by The Sterling Group for total cash consideration of approximately $650 million (c.£520 million), with completion announced on July 7, 2022. The transaction represents a full acquisition, falling within Sterling's typical enterprise value range of $100-750 million for platform investments. Baird acted as exclusive financial advisor to Ergotron, and Constitution Capital co-invested alongside Sterling. For the year ended December 31, 2021, Ergotron reported adjusted operating profit of £58 million and EBITDA of £62 million, with gross assets (mostly goodwill) of £617 million. Net profit was approximately $73 million in 2021 per secondary reporting. The sale concluded Melrose's ownership of Nortek businesses acquired in 2016 for $2.8 billion (Ergotron previously bought by Nortek in 2010 for $280 million). Sterling aims to support Ergotron's management in accelerating growth through its operationally-focused approach. The deal closed in Q3 2022, positioning Ergotron for its next growth phase.

Who has invested in Ergotron?

1 investor has backed Ergotron across its funding rounds, including The Sterling Group.

Lead investors include The Sterling Group.


Ergotron Investors

Investors in Ergotron by funding rounds participated
InvestorHQRoundsRoleFirst check

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Acquisitions by Ergotron

Ergotron has acquired 1 company to date.

Last acquisition by Ergotron was on October 30th 2023. Ergotron acquired Enovate Medical for undisclosed valuation.


Latest Acquisitions by Ergotron

Enovate Medical
Description
Enovate Medical is an Iowa-headquartered provider of workstation solutions for acute care hospitals in the United States. The company supplies mobile carts, wall arms, and point-of-care computing systems that streamline clinical workflows and electronic medical record access. Its specialty-focused designs support nursing stations, ICUs, and emergency departments, enhancing real-time charting and patient monitoring. Thousands of providers across U.S. facilities utilize these ergonomic solutions.
HQ CountryUnited States
HQ City
Murfreesboro, TN
Deal Date30 Oct 2023
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Ergotron Competitors

Ergotron competitors include listed companies like Clevo, Shenzhen Rapoo Technology, Primax Electronics and Toshiba, and private ones like Numao Technology and iBall.

Public and private companies comparable to Ergotron
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
ClevoTaiwanTaiwanPublicly listed$640M$68M$858M-
Shenzhen Rapoo TechnologyChinaChinaPublicly listed$68M$1M$872M-
Primax ElectronicsTaiwanTaiwanPublicly listed$1.9B$140M$946M0.4x
ToshibaJapanJapanPublicly listed$3.7B$146M$999M0.3x
Numao TechnologyChinaZhuhaiPrivate--$100M-
iBallIndiaIndiaPrivate--$27M-

Ergotron Public Comps

Ergotron is no longer listed, but its public comps include Clevo, Shenzhen Rapoo Technology, Riso Kagaku, Primax Electronics, Toshiba, AstroNova, Turtle Beach, Promate Solutions, Xaar and Spigen.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Clevo$640M$68M2.8x-26.1x-
Shenzhen Rapoo Technology$68M$1M12.2x-569.6x-
Riso Kagaku$508M$64M0.8x0.8x6.1x-
Primax Electronics$1.9B$140M0.4x0.4x5.3x5.6x
Toshiba$3.7B$146M0.3x0.3x7.4x4.4x
AstroNova$151M$6M1.7x1.8x45.1x-
Turtle Beach$320M$39M0.9x0.9x7.3x6.5x
Promate Solutions$65M$13M1.8x-8.6x-

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Common questions about Ergotron

When was Ergotron founded?Ergotron was founded in 1982.
Where is Ergotron headquartered?Ergotron is headquartered in Saint Paul, MN, United States.
Is Ergotron publicly listed?No, Ergotron was acquired by The Sterling Group in June 2022.
Who acquired Ergotron?Ergotron was acquired by The Sterling Group in June 2022.
How much was Ergotron acquired for?Ergotron was acquired for $650M in June 2022.
What is Ergotron's valuation?Ergotron was last valued at $650M in its undisclosed-stage round in July 2022.
How much funding has Ergotron raised?Ergotron has raised $288M across 1 funding round.
What was Ergotron's last funding round?Ergotron's last funding round was a $288M undisclosed-stage round in July 2022, led by The Sterling Group.
Who are Ergotron's investors?Ergotron's investors include The Sterling Group.
Which companies are comparable to Ergotron?Companies comparable to Ergotron include Clevo, Shenzhen Rapoo Technology, Primax Electronics, Toshiba, Numao Technology and iBall.
How many companies has Ergotron acquired?Ergotron has acquired 1 company, including Enovate Medical.

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