USA - Steelcase, one of the largest global furniture manufacturers, signed a definitive deal to acquire Halcon, a manufacturer of workplace wood furniture, for USD 127.5 million.

According to the company, the transaction will be funded using existing cash and its credit facility.

This acquisition will complement the current portfolio of Steelcase wood products.

Established in 1977, Halcon is a leader in custom wood and executive-level tables, credenzas, and desks. With a culture of quality and innovation, the company’s portfolio features patented, award-winning furniture collections for today’s private office, open-plan, and collaborative spaces. Halcon’s range of sophisticated solutions elevate the worker experience with thoughtful and innovative details.

Steelcase and its brands offer an extensive selection of solutions and services designed to support the way people and organizations want to work today.

The transaction is expected to close during Steelcase’s second quarter of fiscal 2023, subject to regulatory approval and the satisfaction of customary closing conditions.  It involves the acquisition of all outstanding equity interests in Halcon.