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Steelcase to Acquire Office Furniture Maker AMQ Solutions

Wednesday, November 29, 2017  
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Office furniture giant Steelcase has announced a definitive agreement to acquire AMQ Solutions a California-based provider of height adjustable desks, benches and seats.

The acquisition is expected to help Steelcase provide a broader range of price points to meet existing customer needs and serve additional customers globally. The all-cash transaction – details of which were not disclosed – is expected to be completed during Steelcase’s fourth quarter of fiscal 2018, subject to customary closing conditions and regulatory approvals. AMQ’s revenue for the trailing 12 months was approximately $37 million.

"There is great value to be created in joining our two companies," said Allan Smith, VP, Global Marketing of Steelcase. "AMQ is eager to grow by leveraging our industry-leading dealer network and global reach, and we expect to drive further growth by offering additional product choices and leveraging its supply chain capabilities for Steelcase."

Following completion of the transaction, the AMQ offering is expected to be available through authorised Steelcase dealers in addition to AMQ’s existing network of dealers and sales reps.

"As the workplace continues to evolve to support new ways of working, we have been increasing the breadth of our product offering through product development, partnerships and, in this case, acquisition," said Steelcase CEO Jim Keane.

"The AMQ product portfolio provides a great platform for scalable growth as we combine the strength of the Steelcase network with the AMQ business model."

To support a broader range of price points and in addition to this transaction, Steelcase recently announced marketing and distribution relationships with Blu Dot, Bolia, FLOS and Mitchell Gold + Bob Williams, supplementing its portfolio and offering greater choice and value to customers.

Height-adjustable office furniture has been one of the product segments to benefit from greater awareness of the need for employee health and well-being at work.

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