Reassessing Steelcase (SCS) Valuation After Its Quiet Multi‑Year Shareholder Return Recovery
Steelcase (SCS) has shown a strong multi-year shareholder return recovery, outperforming many peers, which suggests investors are re-evaluating its potential. While one narrative views the stock as modestly overvalued, a Discounted Cash Flow (DCF) model indicates it may be deeply undervalued, presenting a conflicting view on its investment quality and future prospects. This article explores whether Steelcase is an underappreciated cash generator or if its growth is already priced in, highlighting the discrepancies in valuation perspectives.
HNI Corporation Completes Acquisition of Steelcase Inc.
HNI Corporation has successfully acquired Steelcase Inc., merging two prominent industry leaders to address the evolving needs of the workplace, especially with increasing in-office work trends. This acquisition, strongly supported by shareholders of both companies, will strengthen HNI's market position, combining complementary portfolios and distribution networks, and is projected to generate pro forma annual revenues of $5.8 billion. Both companies will maintain their respective corporate headquarters in Muscatine, Iowa, and Grand Rapids, Michigan.
HNI completes $2.2B acquisition of Steelcase, creating $5.8 billion furniture giant
HNI Corporation has completed its $2.2 billion acquisition of Steelcase Inc., forming a furniture giant with combined annual revenues of $5.8 billion. This merger unites two leading contract furniture companies, aiming to address evolving workplace needs and leverage complementary strengths. The integration will proceed in phases, focusing on operational enhancements and customer experiences.
HNI and Steelcase Announce Preliminary Results for Election of Form of Merger Consideration for Steelcase Shareholders
HNI Corporation and Steelcase Inc. have announced the preliminary results of their merger consideration election. The majority of Steelcase shareholders, 95,489,941 shares, elected to receive Mixed Consideration, which includes both cash and HNI common stock. The transaction is still pending shareholder approvals and other closing conditions.
Steelcase (NYSE: SCS) holders back HNI acquisition as pay proposal fails
Steelcase Inc. shareholders have approved the merger with HNI Corporation at a special meeting on December 5, 2025, paving the way for the acquisition to close on December 10, 2025. While the merger proposal received overwhelming support, a separate non-binding advisory vote on executive compensation related to the transaction failed, signaling shareholder disapproval of the proposed pay packages. The failed compensation vote does not, however, prevent the merger from proceeding.
Halper Sadeh LLC Encourages IMXI, HNI, SCS Shareholders to Contact the Firm to Discuss Their Rights
Halper Sadeh LLC, an investor rights law firm, is investigating potential violations of federal securities laws and/or breaches of fiduciary duties related to transactions involving International Money Express, Inc. (IMXI), HNI Corporation (HNI), and Steelcase Inc. (SCS). The firm encourages shareholders of these companies to contact them to discuss their legal rights and options, including seeking increased consideration or additional disclosures. Halper Sadeh LLC will pursue these actions on a contingent fee basis, meaning shareholders would not be responsible for out-of-pocket legal fees.
HNI Corporation Announces Acquisition of Steelcase, Extends Exchange Offer for Existing Notes
HNI Corporation announced a definitive agreement to acquire Steelcase, Inc. through a cash and stock transaction. The company also extended the exchange offer and consent solicitation for outstanding Steelcase Notes until December 5, 2025, to facilitate the exchange into new HNI Notes. The acquisition is subject to shareholder and regulatory approvals and is not contingent on the completion of the exchange offer.
InvestingPro Fair Value model captures 63% gain in Steelcase ahead of acquisition By Investing.com - Investing.com Canada
This article from Investing.com Canada reports on InvestingPro's Fair Value model successfully predicting a 63% gain in Steelcase. However, due to an application error, the full content of the article is not available to provide further details regarding the acquisition and the model's performance.
Michigan-based Steelcase bought by HNI Corporation in $2.2 billion deal
Steelcase, a major Michigan-based furniture company, has announced its acquisition by HNI Corporation of Iowa in a $2.2 billion deal involving both stock and cash. Steelcase will retain its branding and headquarters in Grand Rapids, with the combined company aiming to enhance customer reach, accelerate digital transformation, and strengthen its market position in the workplace and residential building products sector. The transaction is expected to finalize by the end of the year, with HNI shareholders owning approximately 64% of the new entity.
Steelcase Inc. to Webcast Third Quarter Fiscal Year 2025 Financial Results on December 19, 2024
Steelcase Inc. (SCS) announced it will webcast its third quarter fiscal year 2025 financial results discussion on December 19, 2024, at 8:30 a.m. ET. The official news release detailing the results will be published after market close on December 18, 2024. The company, founded in 1912, reported a fiscal year 2024 revenue of $3.2 billion and is a leader in workspace design.
Steelcase unveils innovative workspace solutions at grand opening of ‘The Space by UMCI’
Steelcase and UMCI Furniture Services Inc. officially launched "The Space by UMCI," a new state-of-the-art showroom in Makati, revolutionizing workspace design. The showroom features Steelcase's innovative furniture solutions, emphasizing comfort, aesthetics, and productivity, and serves as a dynamic co-working environment. This opening marks UMCI's leadership in providing innovative office solutions in the Philippines.
Steelcase fulfills Frank Lloyd Wright Foundation’s vision of furniture for ‘everyday people’
Steelcase and the Frank Lloyd Wright Foundation have launched two new furniture collections, Galesburg and Rockford, inspired by Wright's Usonian architecture. These collections aim to make Wright's designs more accessible and affordable for modern consumers, moving beyond luxury replicas. The partnership reflects a shared vision of adapting Wright's principles for contemporary living spaces and workplaces.
Steelcase showroom, White Rhino Coffee flagship location, IT firm land in new Victory Park high-rise
Hillwood Urban's new 15-story Victory Commons One office building in Victory Park has secured prominent tenants including a Steelcase showroom, a flagship White Rhino Coffee location, and an IT firm. This 352,000-square-foot high-rise is situated near the American Airlines Center. The article highlights the successful leasing efforts for this new commercial development.
Steelcase moving into Glendale
Steelcase Inc., a furniture manufacturer, has entered a long-term lease valued at $10.8 million for a 211,360-square-foot space in Glendale's C|303 industrial development. This strategic move aims to expand Steelcase's distribution footprint in the Southwest. The industrial park, being developed by Merit Partners, First Industrial Realty Trust, and Diamond Realty Investments, will provide Steelcase with a prime location along the Loop 303 industrial corridor.
Steelcase acquires Halcon for more than $127 million
Steelcase Inc. has signed a definitive agreement to acquire Halcon, a Minnesota-based designer and manufacturer of precision-tailored wood furniture, for $127.5 million, with potential additional consideration up to $9.5 million. This acquisition is expected to bolster Steelcase's revenue and expand its product portfolio, aiming for growth through geographic expansion, portfolio enhancement, and continued revenue gains in Halcon's core markets. Halcon, established in 1977, reported approximately $70 million in revenue over the previous twelve months through April 2022.
Steelcase to acquire office furniture maker AMQ Solutions
Steelcase Inc. announced its plan to acquire AMQ Solutions, a Southern California-based provider of height-adjustable office furniture, in an all-cash transaction. This acquisition will broaden Steelcase's product offerings and price points, leveraging AMQ's capabilities and Steelcase's global network. The deal is expected to close during Steelcase's fourth quarter of fiscal 2018, subject to regulatory approvals.
Inside the high-security, futuristic Switch pyramid
Switch, a high-tech company providing internet infrastructure, has revamped the former Steelcase pyramid in Gaines Township, Michigan, into a futuristic, high-security data center. The company plans to invest up to $1 billion to create the largest, most advanced data-center campus in the Eastern U.S., housing "cloud data" for major clients like eBay, Google, and Amazon. The facility's design, based on 270 patents by CEO Rob Roy, emphasizes redundancy and security, featuring a stark interior, advanced cooling systems, and strict protocols for visitors and personnel.
How classroom design affects student engagement
A Steelcase study found that classrooms designed for active learning significantly improve student engagement compared to traditional classroom layouts. The research, conducted at four U.S. universities, utilized a robust survey instrument to compare experiences in old versus new learning environments across 12 measured factors. Results indicated a highly positive and statistically significant impact on student engagement, motivation, and creativity for both students and faculty in active learning classrooms.
U of Arizona Experiments With Multiple Classroom Configurations
The University of Arizona, with a grant from Steelcase Education, has redesigned a classroom to test state-of-the-art configurations for active learning. The experiment involves movable desks, interactive projectors, and whiteboards, allowing for flexible, student-centered classroom setups. This initiative is part of a larger study by Steelcase to understand how intentional classroom design enhances active learning.
Steelcase Charges Up Personalized Pod-Like Office Spaces
Steelcase introduced the Brody WorkLounge, a "microenvironment" designed to help workers maintain focus in open office settings by reducing distractions. The pod-like furniture integrates power, storage, and lighting with an ergonomic design, including features like an angled work surface and embedded technology options. This innovation addresses the challenge of frequent interruptions and task switching in typical workplaces based on neuroscience research.
Former Steelcase factory will have new occupants in production by August
Franklin Partners and Bixby Bridge Capital have purchased a former Steelcase manufacturing facility in Kentwood, MI, with a new, unnamed tenant expected to begin production by August. This acquisition is part of Franklin Partners' strategy to redevelop former Steelcase properties, transforming vacant sites into active manufacturing and distribution centers. The redevelopment efforts aim to bring new life and employers to West Michigan's industrial landscape.
Steelcase's landmark pyramid building being donated to mystery nonprofit for educational hub
Steelcase is donating its pyramid-shaped former research facility to an unnamed nonprofit to establish a STEM-focused education hub for students from preschool through graduate school. The project, known as Pyramid P20 STEM Education Hub, is seeking $5.5 million in state funding, but faces scrutiny due to a lack of transparency regarding the nonprofit and its operational details. Businessman Jerry Zandstra is the only identified partner, emphasizing the hub's aim to integrate STEM and art education at all levels without duplicating existing services.
How Steelcase Redesigned the 21st Century College Classroom
Steelcase is addressing the mismatch between traditional college classrooms and the evolving demands for collaborative skills in the modern workforce by introducing "LearnLabs." These innovative classroom designs feature flexible furniture, huddle boards, and media:scape tables, promoting student engagement and collaboration. Case studies at Arizona State University and Richland College show improved retention and grades in LearnLabs, despite the higher cost and need for instructor training.
IDEO and Steelcase Unveil a School Desk for the Future of Teaching
IDEO and Steelcase have introduced the Node chair, a redesigned school desk that adapts to modern teaching methods. The chair features a swiveling, generously sized seat, a rolling base for easy reconfiguration, and integrated storage, addressing the limitations of traditional static classroom furniture. While offering significant improvements, its adoption in public schools might be limited due to cost and durability concerns compared to existing robust school furniture.
IDEO and Steelcase update the classroom desk
IDEO and Steelcase have collaborated to update the traditional classroom desk with the Node chair. This new design features casters for dynamic movement, integrated storage, and a generously-sized desk surface for laptops. The Node chair is also designed for easy assembly, shipping in three pieces that can be put together in 30 seconds without tools.
IDEO and Steelcase Unveil a School Desk for the Future of Teaching [UPDATED]
IDEO and Steelcase have collaboratively designed the Node chair, a revolutionary school desk aimed at modernizing classroom furniture. This innovative design addresses the inefficiencies of traditional classroom setups by providing a versatile and adaptable seating solution that accommodates various teaching methods and student activities, including swiveling seats and a rolling base for easy rearrangement. The Node chair represents a thoughtful approach to improving student engagement and comfort in contemporary learning environments.
