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Marc Jourlait Joins Cathay Capital as Operating Partner and Innovative Motion Technologies Executive Chairman

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Veteran Operator Joins IMT Board to Drive Strategic Growth and Value Creation Program

NEW YORK, October 25, 2023-- Cathay Capital Private Equity, a leading international investment firm, today announced the appointment of Marc Jourlait as Operating Partner of Cathay Capital and Executive Chairman of Cathay portfolio company Innovative Motion Technologies (IMT), a Germantown, Wisconsin-based industrial technology platform specializing in interface and control solutions serving a variety of end markets and sales channels.

IMT is the parent platform of Raffel Systems and Micro-Air, two renowned brands. Since 1982, Raffel Systems has been the industry innovator in developing electronic motion controls, comfort-oriented systems, and innovative charging solutions for multiple end markets, including motion furniture, industrial, healthcare, bedding, hospitality and retail end-market applications. Since 1983, Micro-Air has been a leading designer and manufacturer of total control solutions focused on energy-efficient and reliable environmental control interfaces, primarily serving the after-market RV, marine and HVAC industries. Both brands are deeply respected for their heritage, innovation, quality, and customer service.

Jourlait joins the company as it continues its growth trajectory in capturing market share in the motion technology and interface solutions sector. In his new role, he will support IMT's existing Management as the Company accelerates its organic growth across end markets, while also deepening its add-on acquisition program following the successful integration of Micro-Air, acquired by IMT in late 2021. Jourlait will steer the Company's strategic planning process, advise IMT's Management and Board on strategic initiatives, while supporting the evaluation of and integration of add-on acquisitions for the Company.

Mark Woods, Partner and Head of North American Private Equity at Cathay Capital, expressed, "The inclusion of Marc in IMT's journey is a major milestone as we look to build off the significant momentum and growth IMT has experienced. Marc is an accomplished and seasoned operating executive with a world-class approach to the private equity operating partner role. The Cathay Capital team looks forward to working with Marc as he partners with IMT's existing Management to help drive the next stage of growth in the platform. As we deepen value creation at our portfolio companies, proven operating partners like Marc have enhanced our ability to support management teams and drive scale within our portfolio."

Jourlait has a proven track record of executing successful PE assignments driving growth, integrating M&A and leading value-creation agendas. He serves as operating partner, board member and Chairman for portfolio companies of the Riverside Company and Oaktree Capital Management. He has also served as CEO of Kodak Alaris, Deputy CEO of Navico, and General Manager of Bose Europe. He has accumulated over three decades of experience, previously holding leadership roles in global giants like Apple, HP, Seagate, and Technicolor.

Marc Jourlait commented, "Joining IMT's Board at this juncture is both an honor and an exciting challenge. With a robust foundation in place and a strong Management team led by CEO Rich Weeden, I look forward to championing IMT's next phase of organic and inorganic growth and help drive significant value creation alongside the Cathay Capital team."

About Cathay Capital

Cathay Capital is a global private equity and venture capital investment firm supporting companies throughout North America, Europe, and Asia. The firm helps middle-market companies and startups navigate the opportunities for growth, international expansion, and sustainable transformation. Cathay is the partner of choice for companies aspiring to lead markets and make a positive impact. Its platform connects people with global reach and local expertise – from investors and entrepreneurs to management teams and leading corporations – to share knowledge, the tools to scale and to transform businesses.

Founded in 2007 with a strong entrepreneurial heritage, Cathay Capital now manages more than $5.5 billion in assets. It has made over 280 investments in verticals including healthcare, technology, and consumer from offices in Paris, New York, San Francisco, Munich, Berlin, Madrid, Shanghai, Beijing, Shenzhen, and Singapore.

About Innovative Motion Technologies

Innovative Motion Technologies (IMT) is a global industrial technology platform and industry-leading designer and supplier of unique interface and controls solutions across a diversified set of market applications. Product lines include motion controls, environmental control solutions, energy efficiency, comfort and massage systems, and power charging. IMT serves a variety of aftermarket and OEM end markets, including motion furniture, marine, industrial, healthcare, HVAC, RV, bedding, hospitality and retail end-market applications. For more information about Innovative Motion Technologies, please visit https://imtbrands.com.

Contact:
Media Contact:
Mary Magnani, CodePR
marym@codepr.com

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