M&A Deal Summary

Steelcase Acquires PolyVision

On August 27, 2001, Steelcase acquired manufacturer PolyVision from Equity South for 176M USD

Acquisition Highlights
  • This is Steelcase’s 1st transaction in the Manufacturing sector.
  • This is Steelcase’s largest (disclosed) transaction.
  • This is Steelcase’s 1st transaction in the United States.
  • This is Steelcase’s 1st transaction in Georgia.
Investment Fate
  • PolyVision was divested to a consortium of buyers in 2020.

M&A Deal Summary
Date 2001-08-27
Target PolyVision
Sector Manufacturing
Buyer(s) Steelcase
Sellers(s) Equity South
Deal Type Add-on Acquisition
Deal Value 176M USD

Target

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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Buyer(S) 1

Buyer

Steelcase

Grand Rapids, Michigan, United States
Category Company
Founded 1912
Sector Furniture
Employees11,300
Revenue 3.2B USD (2024)
DESCRIPTION
Entrance to Steelcase's corporate headquarters in Grand Rapids, Michigan.
Entrance to Steelcase's corporate headquarters in Grand Rapids, Michigan.

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.

DEAL STATS #
Overall 1 of 5
Sector (Manufacturing) 1 of 1
Type (Add-on Acquisition) 1 of 5
State (Georgia) 1 of 1
Country (United States) 1 of 3
Year (2001) 1 of 1
Size (of disclosed) 1 of 3
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-09-06 Softcare Innovations

Waterloo, Ontario, Canada

Softcare Innovations Inc. is a manufacturer of healthcare furnishings, with headquarters in Waterloo, Ontario.

Buy -

Seller(S) 1

SELLER

Equity South

Atlanta, Georgia, United States
Category Private Equity Firm
Founded 1995
Size Small
Type Sector Agnostic
DESCRIPTION

Equity-South Partners is a private investment firm that targets smaller company investments located in the Southeast US. Equity-South looks for businesses in manufacturing, service, software, and franchising with up to $50 million in revenues. Equity-South Partners is based in Atlanta, Georgia.

DEAL STATS #
Overall 4 of 10
Sector (Manufacturing) 1 of 2
Type (Add-on Acquisition) 2 of 5
State (Georgia) 2 of 4
Country (United States) 4 of 10
Year (2001) 2 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-04-30 Paysys

Atlanta, Georgia, United States

Paysys is a developer and provider of payment systems solutions for the retail, private label and bank credit card industries.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-01-01 Carstar

Leawood, Kansas, United States

CARSTAR is the largest franchisor of automobile collision repair shops in North America.

Buy -
Mergr

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