Opus Bank’s Commercial Banking division provides financing to Interior Office Solutions, Inc. as it continues its West Coast expansion
Overview of Transaction
Interior Office Solutions, Inc. (“IOS”) sells and installs modular and freestanding office furniture; designs, engineers, and sources custom office furniture; and specializes in providing clientele raised access flooring, movable walls, high-density storage, and general furniture related services.
Customers enlist IOS’ resources and offerings for innovative configurations of their workspaces and for specialized furniture solutions and services.
IOS was positioned to enter a new market through the acquisition of a market leader in the Seattle/Puget Sound region, furthering their brand presence along the West Coast.
Significance of Transaction
The transaction enabled IOS to continue its expansion into the Pacific Northwest.
Opus Bank (“Opus”) provided growth capital to support the Seattle acquisition and to allow IOS to take advantage of supplier discounts.
With this acquisition, IOS is now the distributor for one of the largest office furniture manufacturers in four distinct territories: Orange County, CA; Los Angeles, CA; Portland, OR; and Seattle, WA.
Opus Bank's Role
Opus understood the acquisition opportunity being offered to IOS.
Opus took the time to understand IOS’ asset conversion cycle and structured a loan that met the company’s cash flow needs.