U.S.- Steelcase Inc. announced the pending acquisition of AMQ Solutions, a California-based provider of height adjustable desking, benching and seating for workstations in the open plan, collaborative environments and training rooms.

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 transaction is 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 twelve months was approximately USD37 million.

“There is great value to be created in joining our two companies,” said Allan Smith, vice president, 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 AMQ's supply chain capabilities for Steelcase.”

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

“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 Jim Keane, president and CEO of Steelcase. “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.”

Founded in 1912, Steelcase's portfolio of architecture, furniture and technology products includes the Steelcase, Coalesse, Designtex, PolyVision and Turnstone brands. The company posted fiscal 2017 revenues of USD 3.0 billion.