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HNI Mergers & Acquisitions

HNI M&A Summary

HNI has acquired 10 companies, including 3 in the last 5 years. A total of 2 acquisitions came from private equity firms. It has also divested 1 asset.

HNI’s largest acquisition to date was in 2025, when it acquired Steelcase for $2.2B. HNI has acquired in 7 different US states, and 2 countries. The Company’s most targeted sectors include furniture (78%) and distribution (12%).

M&A Summary

  • M&A Total Activity10
    • M&A Buy Activity9
    • M&A Sell Activity1
  • Total Sectors Invested 3
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 4

HNI

HNI Corp.

600 East Second Street,
Muscatine, Iowa 52761
United States,
(563) 272-7400
www.hnicorp.com

All (10) Buy (9) Sell (1)
Date Target Value
$mlns 		Transaction Type Acquirer Seller SRC
Link
2025-08-04 Steelcase · Furniture
Grand Rapids, Michigan · www.steelcase.com

Steelcase 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.

Revenue (mlns) 3,166 USD
EBITDA (mlns) 186 USD
2,200
11.8x EBITDA
0.7x REVENUE 		Add-on Acquisition

HNI

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