HNI - M&A Summary and Business Overview

FurnitureCompany

HNI M&A Summary

HNI has acquired 9 companies, including 2 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 2023, when it acquired Kimball International for $485M. HNI has acquired in 6 different US states, and 2 countries. The Company’s most targeted sectors include furniture (75%) and manufacturing (13%).

HNI Business Overview

Where is HNI headquartered?

HNI is headquartered in Muscatine, Iowa.

What is HNI’s revenue?

HNI disclosed revenue of 2,184M USD for 2021 and 1,955M USD for 2020.

How many employees does HNI have?

HNI has 7,900 employees.

What sector is HNI in?

HNI is a furniture company.

When was HNI founded?

HNI was founded in 1944.

M&A Summary

  • M&A Total Activity9
    • M&A Buy Activity8
    • M&A Sell Activity1
  • Total Sectors Invested 3
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 4
  • M&A Advisors 3

HNI

HNI Corp.

600 East Second Street PO Box 1109,
Muscatine, Iowa 52761
United States,
(563) 272-7400
www.hnicorp.com

HNI is provider of products and solutions for the home and workplace environments. HNI is a global office furniture manufacturer. HNI was founded in 1944 and is based in Muscatine, Iowa.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.4/yr) # 6 1 - - 1 - 8
vol $485M $485M
Sell (0.0/yr) # 1 - - - - - 1
  9

Most Recent M&A

Company Date Value Type
Kimball International, Inc. 2023-03-08 485M USD Add-on Acquisition
Jasper, Indiana · www.kimballinternational.com
Design Public Group LLC 2020-12-01 - Add-on Acquisition
Culver City, California · www.designpublic.com
Vermont Castings Group 2014-10-01 - Add-on Acquisition
Paris, Kentucky · www.vermontcastings.com
LSI Corporation of America, Inc. 2013-06-19 - Divestiture
Minneapolis, Minnesota · www.lsi-casework.com
BP Ergo Ltd. 2012-08-13 - Add-on Acquisition
Mumbai, India
Sagus International, Inc. 2011-11-14 - Add-on Acquisition
Oakbrook, Illinois · www.sagusinternational.com
Artco-Bell Corp. 2011-11-14 - Divestiture
Temple, Texas · www.artcobell.com
Midwest Folding Products, Inc. 2011-11-14 - Divestiture
Chicago, Illinois · www.midwestfolding.com
LSI Corporation of America, Inc. 2011-11-14 - Divestiture
Minneapolis, Minnesota · www.lsi-casework.com
View All >>

Business Unit M&A

Company Acquired Add-On/Sale Date #
Sagus International, Inc. 2011-11-14 Artco-Bell Corp. 2011-11-14 2
Oakbrook, Illinois · www.sagusinternational.com Temple, Texas · www.artcobell.com
Sagus International, Inc. 2011-11-14 Midwest Folding Products, Inc. 2011-11-14 1
Oakbrook, Illinois · www.sagusinternational.com Chicago, Illinois · www.midwestfolding.com

M&A by Sector

Sector Buy # Value Sell # Value
Furniture 6 (75%) 485M (100%) 1 (100%) -
Distribution 1 (13%) - - -
Manufacturing 1 (13%) - - -
Total 8 $485M 1 -

By Geo

State/Country Buy Value Sell Value
United States 7 485M 1 -
  Illinois 2 - - -
  Minnesota 1 - 1 -
  Texas 1 - - -
  Kentucky 1 - - -
  Indiana 1 485M - -
  California 1 - - -
India 1 - - -
Domestic 7 (88%) 485M (100%) 1 (100%) -
Cross-border 1 (13%) - - -
Total 8 $485M 1 -

Top M&A Advisors

Financial Deals
Rothschild Global Advisory
1
Bayview Capital Group LLC
1
Legal Deals
Davis Polk & Wardwell
1

Deal Values

buy # Total
$100M to $1B 1 $485M
TOTAL $485M
Largest Kimball International, Inc.
$485M (2023-03-08)

M&A Connections

Deals
Acquired from
Investor(s)
13%
1 (13%)
Strategic(s)
38%
3 (38%)
Divested to
Investor(s)
100%
1 (100%)

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