Steelcase Inc. Acquires HALCON Furniture
May 5, 2022
Steelcase Inc. signed a definitive agreement to acquire HALCON, a Stewartville, Minnesota-based designer and manufacturer of precision wood office furniture, for $127.5 million plus up to $9.5 million of contingent consideration. HALCON reported approximately $70 million of revenue over the trailing twelve months through April 2022 and a backlog near $56 million; the transaction is expected to close in Steelcase's second quarter of fiscal 2023.
- Buyers
- Steelcase Inc.
- Targets
- HALCON
- Sellers
- HALCON shareholders (including Ben Conway)
- Industry
- Manufacturing
- Location
- Minnesota, United States
- Transaction Type
- Buyout
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