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Orem — MITY Enterprises, Inc. has been acquired by Prospect Capital Corporation, a New York-based business development company. The transaction closed on Sept. 19. The companies did not disclose financial terms of the transaction.
MITY, headquartered in Orem, designs, manufactures, and distributes multipurpose room furniture and specialty healthcare seating through its Mity-Lite, Inc. and Broda Enterprises, Inc. subsidiaries. MITY was acquired by Sorenson Capital and Peterson Partners in 2007.
“We are very excited to work with Prospect Capital to continue to develop innovative products,grow our market share, and provide our customers with superior products and service,” said MITY’s president and CEO, John Dudash.
D.A. Davidson & Co. served as the exclusive financial advisor to the company and its shareholders on the transaction.