Check Corporation Asset Profile

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Year established

1993

Location

Troy MI US

Primary Industry

Electronics

About

Founded in 1993 and based in Michigan, US, Check Corporation, initially operated as a provider of aftermarket seat heaters, now operates as a manufacturer and designer of flexible heating systems for the automotive, aviation, off-road, marine, motorcycle, agriculture, construction, food services, and healthcare industries. In May 2024, Innovative Motion Technologies, a portfolio company of Cathay Capital, acquired Check Corporation from Sage Capital. Check Corporation specializes in custom heating solutions for automotive and commercial applications. Its product portfolio includes aftermarket seat heaters for vehicles, motorcycles, boats, and RVs, as well as heating systems for medical recliners and heated food delivery bags. Notably, the company gained prominence with The HOTBAG, the first electrically heated pizza delivery bag, and has since expanded its offerings, dominating the heated food delivery market and developing custom seat heaters and therapeutic comfort systems.

Current Investors

Sage Capital

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Primary Industry

Electronics

Sub Industries

Consumer Electronics, Electronic Components

Website

www.checkcorp.com/

Verticals

Manufacturing

Company Stage

Mature - Buyout

Total Amount Raised

Subscriber access only

Deals

Deals Type
Add-on, Trade Sale
Buyout

Deal Status	Target (s)	Deal Date	Investor(s)	Seller(s)	Deal size (Mn)	Enterprise value (Mn)	Post-money valuation (Mn)	EBITDA multiple (x)	Revenue multiple (x)	Lead partner (s)
Completed	Check Corporation	06 May 2024
Completed	Check Corporation	02 Aug 2018

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