M&A Deal Summary

HNI Acquires Midwest Folding Products

On November 14, 2011, HNI acquired furniture company Midwest Folding Products from Sagus International

Acquisition Highlights
  • This is HNI’s 4th transaction in the Furniture sector.
  • This is HNI’s 4th transaction in the United States.
  • This is HNI’s 2nd transaction in Illinois.

M&A Deal Summary
Date 2011-11-14
Target Midwest Folding Products
Sector Furniture
Buyer(s) HNI
Sellers(s) Sagus International
Deal Type Divestiture

Target

Midwest Folding Products

Chicago, Illinois, United States
Midwest Folding Products, Inc., is a manufacturer of institutional furniture. The bulk of Midwest’s sales are derived from two principal product lines, mobile tables and folding tables. The majority of Midwest’s products are sold to schools, hotels and other institutions.

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Buyer(S) 1

Buyer

HNI

Muscatine, Iowa, United States
Category Company
Founded 1944
Sector Furniture
Employees8,100
Revenue 2.4B USD (2023)
DESCRIPTION

HNI is a 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.

DEAL STATS #
Overall 4 of 8
Sector (Furniture) 4 of 6
Type (Divestiture) 3 of 3
State (Illinois) 2 of 2
Country (United States) 4 of 7
Year (2011) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-14 Sagus International

Oakbrook, Illinois, United States

Sagus International, Inc., is a designer and manufacturer of furniture for the educational, hospitality and healthcare industries. Sagus' primary products include: student chairs and desks; teacher chairs, desks and file cabinets; school cafeteria and classroom tables; music room stages and risers; conference and training folding tables and caddies; and casework (custom) cabinets and tables for classrooms, laboratories and other end-uses. Sagus is headquartered in Chicago and employs approximately 600 people. Sagus operates through three divisions

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-13 BP Ergo

Mumbai, India

BP Ergo Ltd., is a manufacturer and marketer of office furniture.

Buy -

Seller(S) 1

SELLER

Sagus International

Oakbrook, Illinois, United States
Category Company
Founded 2001
Sector Furniture
Employees600
Revenue 56M USD (2011)
DESCRIPTION

Sagus International, Inc., is a designer and manufacturer of furniture for the educational, hospitality and healthcare industries. Sagus' primary products include: student chairs and desks; teacher chairs, desks and file cabinets; school cafeteria and classroom tables; music room stages and risers; conference and training folding tables and caddies; and casework (custom) cabinets and tables for classrooms, laboratories and other end-uses. Sagus is headquartered in Chicago and employs approximately 600 people. Sagus operates through three divisions

DEAL STATS #
Overall 3 of 3
Sector (Furniture) 3 of 3
Type (Divestiture) 3 of 3
State (Illinois) 1 of 1
Country (United States) 3 of 3
Year (2011) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-14 Artco-Bell

Temple, Texas, United States

Artco-Bell Corp., is a manufacturer of various furnitures.

Sell -
Mergr

Product

Company

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