M&A Deal Summary

MillerKnoll Acquires Knoll

On April 19, 2021, MillerKnoll acquired furniture company Knoll from Investindustrial for 1.8B USD

Acquisition Highlights
  • This is MillerKnoll’s 8th transaction in the Furniture sector.
  • This is MillerKnoll’s largest (disclosed) transaction.
  • This is MillerKnoll’s 6th transaction in the United States.
  • This is MillerKnoll’s 1st transaction in Pennsylvania.

M&A Deal Summary

Date 2021-04-19
Target Knoll
Sector Furniture
Buyer(s) MillerKnoll
Sellers(s) Investindustrial
Deal Type Add-on Acquisition
Deal Value 1.8B USD
Advisor(s) BofA Securities (Financial)
Sullivan & Cromwell (Legal)

Target

Knoll

East Greenville, Pennsylvania, United States
Knoll is a constellation of design-driven brands and people, working together with its clients to create inspired modern interiors, supporting clients wherever they work or live. The company's internationally recognized portfolio includes furniture, textiles, lighting, accessories, and architectural and acoustical elements. Knoll was founded in 1983 and is based in East Greenville, Pennsylvania.

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Buyer(S) 1

Buyer

MillerKnoll

Zeeland, Michigan, United States

Category Company
Founded 1905
Sector Furniture
Employees11,300
Revenue 4.1B USD (2023)
DESCRIPTION
Herman Miller's corporate headquarters in Zeeland, Michigan.
Herman Miller's corporate headquarters in Zeeland, Michigan.

MillerKnoll researches, designs, manufactures, and distributes interior furnishings for use in various environments including office, healthcare, educational, and residential settings, and provides related services that support organizations and individuals all over the world. Through research, the Company seeks to define and clarify customer needs and problems existing in its markets and to design, through innovation where appropriate and feasible, products, systems, and services that serve as compelling solutions to such problems. The Company's products are sold primarily through independent contract furniture dealers, direct customer sales, owned and independent retailers, direct-mail catalogs, and the company's online stores. MillerKnoll was formed in 1905 and is based in Zeeland, Michigan.


DEAL STATS #
Overall 10 of 10
Sector (Furniture) 8 of 8
Type (Add-on Acquisition) 9 of 9
State (Pennsylvania) 1 of 1
Country (United States) 6 of 6
Year (2021) 1 of 1
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-29 naughtone

Harrogate, United Kingdom

Naughton with the mission of creating beautiful, useful furniture and has grown rapidly in the collaborative furniture market under the leadership of Matt Welsh, Kieron Bakewell, and Mark Hammond. Known for contemporary British design and high-quality manufacturing, particularly in upholstery, naughtone’s innovative products such as the Always chair and lounge, the Polly chair, and the Viv chair are used by clients around the world, including some of the biggest brands in commerce and culture.

Buy $46M

Seller(S) 1

SELLER

Investindustrial

London, United Kingdom

Investor Investor


Category Private Equity Firm
Founded 1990
PE ASSETS 11.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Investindustrial is an investment firm focused on creating global leaders through organic growth and acquisitions. The Firm is operationally driven and seeks opportunities in Southern Europe. Areas of interest include services, consumer, retail, leisure, and industrial manufacturing. Investindustrial has offices in London, Luxembourg, Milan, Lugano, Barcelona, Shanghai, and New York.


DEAL STATS #
Overall 29 of 34
Sector (Furniture) 1 of 1
Type (Add-on Acquisition) 13 of 16
State (Pennsylvania) 1 of 1
Country (United States) 1 of 1
Year (2021) 1 of 3
Size (of disclosed) 2 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-01 Bakelite Synthetics

Louisville, Kentucky, United States

Bakelite Synthetics is an integrated producer of thermoset specialty resins, solutions, and engineered thermoset molding compounds serving a variety of segments and end markets across geographies. Bakelite Synthetics is based in Louisville, Kentucky.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-09 Targa Telematics

Treviso, Italy

Targa Telematics is an Italian player in the telematics and mobility space. The company offers a broad range of software solutions such as asset and fleet management, insurance telematics, diagnostics and remote telemetry, to short and long-term rental companies, leasing and insurance operators and large fleet managers. Targa Telematics is based in Treviso, Italy.

Buy -