M&A Deal Summary

Steelcase Acquires Softcare Innovations

On September 6, 2006, Steelcase acquired furniture company Softcare Innovations

Acquisition Highlights
  • This is Steelcase’s 1st transaction in the Furniture sector.
  • This is Steelcase’s 1st transaction in Canada.
  • This is Steelcase’s 1st transaction in Ontario.

M&A Deal Summary
Date 2006-09-06
Target Softcare Innovations
Sector Furniture
Buyer(s) Steelcase
Deal Type Add-on Acquisition

Target

Softcare Innovations

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

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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 2 of 5
Sector (Furniture) 1 of 4
Type (Add-on Acquisition) 2 of 5
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2006) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-08-27 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.

Buy $176M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-09-14 Ultra Group Company

Hong Kong, China

Ultra Group Company Ltd. is an office furniture manufacturer in China.

Buy $13M
Mergr

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