Maars Living Walls acquired by Herman Miller led consortium
Maars Living Walls, the worldwide leader in interior wall solutions, is acquired by Herman Miller, a global furniture designer and producer, together with a group of investors. The acquisition enables Maars Living Walls to expand its business activities in the United States leveraging Herman Miller’s distribution network. The group of investors consists of Herman Miller, several dealers and management.
PhiDelphi acted as an advisor to Lourens Maars, the owner of Maars Living Walls. Lourens Maars: “PhiDelphi managed the company’s and my interests thoroughly during the process. PhiDelphi’s extensive experience with production companies and international transactions have proven to be of great value. Especially the proactive and leading role that PhiDelphi took in managing the full process contributed to the success of the transaction.”
With the sale of Maars Living Walls, PhiDelphi expanded its track record in the production sector, which already includes the sale of Lagerwey, CAM Bioceramics and Terwa, and the acquisition of Brink and Meuwissen Bouwproducten.
Maars (www.maarslivingwalls.com) is the worldwide leader in interior wall solutions. Maars designs and produces high quality customised wall solutions for offices, care and cure facilities, airports, hotels and universities. The wide range of products have a refined design, are high quality, and demonstrate worldwide leadership in fire and sound certificates and sustainability. Customers include Dow Jones, General Electric, Google, IBM and Microsoft. The company was founded in 1946 in Amsterdam and is currently headquartered in Harderwijk. In 2017, Maars generated EUR 67m revenue and employs c. 300 people. More than 70% of its revenue is generated abroad.
Herman Miller (www.hermanmiller.com) is a globally recognised provider of furnishings and related technologies and services. The 113-year-old company is headquartered in West Michigan. Herman Miller’s product portfolio is perceived to be leading and innovative and has received numerous awards, including the Smithsonian Institution’s Cooper Hewitt National Design Award and a number one ranking on Contract Magazine’s list of “Brands that Inspire” for four straight years. In fiscal 2017, the company generated USD 2.28b in revenue and employed nearly 8,000 people worldwide. Herman Miller trades on the NASDAQ Global Select Market under the symbol MLHR.