M&A Deal Summary

Steelcase Acquires Halcon

On May 5, 2022, Steelcase acquired furniture company Halcon for 128M USD

Acquisition Highlights
  • This is Steelcase’s 4th transaction in the Furniture sector.
  • This is Steelcase’s 2nd largest (disclosed) transaction.
  • This is Steelcase’s 3rd transaction in the United States.
  • This is Steelcase’s 1st transaction in Minnesota.

M&A Deal Summary
Date 2022-05-05
Target Halcon
Sector Furniture
Buyer(s) Steelcase
Deal Type Add-on Acquisition
Deal Value 128M USD

Target

Halcon

Stewartville, Minnesota, United States
website
Halcon provides innovation, uncompromising design, and master craftsmanship to create furniture tailored to the modern workplace. Halcon is based in Stewartville, Minnesota.

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Buyer(S) 1

Buyer

Steelcase

Grand Rapids, Michigan, United States

website

Category Company
Founded 1912
Sector Furniture
Employees11,000
Revenue 2.8B USD (2022)
DESCRIPTION
Entrance to Steelcase's corporate headquarters in Grand Rapids, Michigan.
Entrance to Steelcase's corporate headquarters in Grand Rapids, Michigan.

Steelcase is an entity provides an integrated portfolio of furniture settings, user-centered technologies and interior architectural products across a range of price points. The Company's furniture portfolio includes panel-based and freestanding furniture systems and complementary products such as storage, tables and ergonomic worktools. The Company's seating products include chairs which are highly ergonomic, seating that can be used in collaborative or casual settings and specialty seating for specific vertical markets such as healthcare and education. Steelcase's technology solutions support group collaboration by integrating furniture and technology. The Compay's interior architectural products include full and partial height walls and doors. Steelcase was founded in 1912 and is based in Grand Rapids, Michigan.

DEAL STATS #
Overall 5 of 5
Sector (Furniture) 4 of 4
Type (Add-on Acquisition) 5 of 5
State (Minnesota) 1 of 1
Country (United States) 3 of 3
Year (2022) 1 of 1
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-24 PolyVision

Duluth, Georgia, United States

PolyVision is a manufacturer of CeramicSteel (the substrate used in the manufacture of whiteboards and other writing surfaces), finished writing surfaces, and architectural cladding for use in the education, healthcare, commercial office, and transit end-markets. PolyVision was founded in 1954 and is based in Duluth, Georgia.

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