Mity-Lite
{{Short description|American manufacturer}}
{{Infobox company
|logo = MityLite 320x160 Logo.jpg
|name = MityLite
|type =
|foundation = 1987
|location_country = United States
|key_people = Kevin McCoy, CEO
|num_employees = 400+
|homepage = [http://www.mitylite.com mitylite.com]
}}
MityLite, Inc. is an American manufacturer of tables, chairs, portable dance floors, staging, and other event furniture.
History
MityLite is a global manufacturer of commercial furniture. Based in Orem, Utah, MityLite is part of the MITY Incorporated family of product brands, which include Holsag, Bertolini, and Broda. MityLite manufactures and sells banquet chairs, folding tables, a sprung dance floor, folding chairs, stacking chairs, Chiavari chairs, outdoor furniture, and other event furnishings for the hospitality industry and other public spaces.{{Cite news |date=August 5, 2020 |title=MityLite Takes on Millions in Business for 2020|url=https://mitylite.com/patents |access-date=May 9, 2023}}
The company was founded In 1987 by Greg Wilson, who owned Church Furnishings, Inc, a company that made pews and other church furniture. He secured a $1 million contract order with the Church of Jesus Christ of Latter-day Saints for a banquet table he had developed. However, Wilson lacked the financing to manufacture the table. After a deal with Samsonite failed, Wilson incorporated as MITY Enterprises, Inc., with US$500,000 from Angel Investors.[http://marriottschool.byu.edu/cet/resources/cases/Mity-Lite.pdf “Mity-Lite Corporation: The IPO Process,”] {{webarchive|url=https://web.archive.org/web/20130623135901/http://marriottschool.byu.edu/cet/resources/cases/Mity-Lite.pdf |date=2013-06-23 }} Marriott School of Business, Brigham Young University
In March 1994, MITY Enterprises went public, selling 900,000 shares of common stock at US$5.25 per share. The company was listed on the NASDAQ under the ticker symbol MITY. In July 2007 Mity Enterprises merged with Sorenson Capital and Peterson Partners, both Salt Lake City-based private equity firms.[http://findarticles.com/p/articles/mi_m0EIN/is_2007_May_3/ai_n27224352/ "MITY Enterprises, Inc. to Be Acquired by Sorenson Capital and Peterson Partners for $21.50 Cash Per Share"] Business Wire, 3 May 2007
Prospect Capital Corp. became the parent company of MITY in September 2013. Kevin McCoy was named CEO in November of 2023.
References
{{reflist}}
External links
- [http://www.mitylite.com/ MityLite corporate website]
- [https://mityinc.com/ Mity Inc. corporate website]
Category:Manufacturing companies established in 1987
Category:Furniture companies of the United States
Category:Manufacturing companies based in Utah