Herman Miller Inc

Herman Miller Inc

Herman Miller Inc

Overview
Date Founded

1981

Headquarters

855 E MAIN AVENUE, ZEELAND, MI, 494640302

Type of Company

Public

Employees (Worldwide)

8,000

Industries

Equipment & Office Supplies
Textiles
Industrial Machinery & Manufacturing
Furniture

Company Description

Herman Miller was a West Michigan businessman who helped his son-in-law, D.J. De Pree, buy the Michigan Star Furniture Company in 1923. De Pree had been working at the company, which opened in 1905, since he was hired in 1909 as a clerk. De Pree knew his father-in-law was a man of integrity, so he decided to rename the company after him. By the middle of the 20th century, the name Herman Miller had become synonymous with “modern” furniture. Working with legendary designers George Nelson and Charles and Ray Eames, the company produced pieces that would become classics of industrial design. Since then, we’ve collaborated with some of the most outstanding designers in the world, including Alexander Girard, Isamu Noguchi, Robert Propst, Bill Stumpf, Don Chadwick, Ayse Birsel, Studio 7.5, Yves Béhar, Doug Ball, and many talented others. Today, in addition to our classic pieces and new designs for the home, Herman Miller is a recognized innovator in contemporary interior furnishings, solutions for healthcare environments, and related technologies and services. A publicly held company headquartered in Zeeland, Michigan, we have manufacturing facilities in the United States, China, Italy, and the United Kingdom and sales offices, dealers, licensees, and customers in over 100 countries. We operate through several focused businesses, brands, and distribution channels, including Herman Miller, Herman Miller Healthcare, Nemschoff, Geiger International, and independently owned dealerships. All of them work to design and build a better world around you

Contact Data
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Executives & Employees

Chief Executive Officer

President, Chief Executive Officer & Director

Chief Creative Officer

Chief Financial Officer

Secretary & General Counsel

Chief Technology Officer

Vice President & General Manager of Focused Market Segments

President, North America Contract

President, Specialty Brands

Board of Directors

Former Chief Executive Officer at Herman Miller Inc

Chief Operating & Financial Officer at Stitch Fix, Inc.

Chief Executive Officer, Director at Burger King Corporation

President, Chief Executive Officer & Director at Herman Miller Inc

Chief Financial & Administrative Officer at Ryan Companies US, Inc.

Vice Chairman at Personal Care Products Council

Paths to Herman Miller Inc
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Herman Miller Inc
Owners & Shareholders
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FTAM uses both fundamental and quantitative research as methods of analysis for their investment strategies; however, their investment approach does not fall into either the traditional fundamental or quantitative categories. The firm believes that while stock markets are efficient most of the time, behavioral anomalies can arise under certain circumstances, resulting in exploitable mispricing opportunities. FTAM's strategies primarily invest in US listed companies and are a long only or a long/short strategy and may employ futures, ETFs and leverage. Their investment strategies include small-cap growth, small-cap value, small-cap core, behavioral small-cap equity, mid-cap value, micro-cap, low volatility behavioral equity market neutral and behavioral unconstrained equity.

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Van Berkom & Associates (VBA) manages small-cap stock portfolios for large Canadian and U.S. pension funds, corporations, foundations and high-net worth clients on a segregated basis. The firm specializes in managing portfolios of U.S. and Canadian Small-Cap Equities. They look for companies with strong management with a significant ownership position, several years of consistent growth in revenues and earnings, a clearly defined strategy for long-term growth and conservative accounting methods. VBA also looks for companies with an important franchise, a significant market share, a global reach and a unique product or service. Companies should be gaining market share in a fragmented industry. Additional financial criteria include: projected long-term EPS growth greater than 15%, high return on equity, a strong balance sheet, adequate size and strong cash flow generation. While the firm generally prefers to invest in non-cyclical industries, they may also consider investments in companies that can grow their asset base in the resource and cyclical sectors and generate a reasonable return on invested capital and shareholders' equity.VBA's research process focuses on fundamental analysis. Part of their research effort considers the economic cycle and the identification of the secular trends of the future. Most of their efforts center on the identification and analysis of individual companies that are prepared for the economic and secular trends of the future. The firm emphasizes bottom-up analysis to identify high-quality, undervalued companies.

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Clark Capital Management Group is a family and employee owned Independent Investment Advisory firm providing institutional-quality investment solutions to individual investors, corporations, foundations, and retirement plans. Founded in 1986 we are one of the oldest and most experienced firms currently offering our solutions to the independent Wealth Advisors. With over 20 years experience providing wealth management solutions to individual investors, Clark Capital has navigated our clients' wealth through a variety of investment environments. There is no substitute for experience, and our seasoned team of portfolio managers has allowed Clark Capital to successfully deliver on our investment management promise. Our investment staff is comprised of nine professionals with a combined one hundred seventy years of experience and includes three Chartered Financial Analysts (CFA). We offer sophisticated investment solutions to Wealth Advisors and their clients, solutions that are designed to be easy to implement and access. Our hallmark is Innovation, which we believe is a necessity in the ever changing investment climate of today and tomorrow. Sophistication and Innovation are always tempered by our commitment to effective risk management and grounded in the realization that we must be Flexible and Responsive to clients' needs and to the ever changing climate of the world wide investment scene

Recent Transactions
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Herman Miller Inc purchases HAY A/S from Nine United A/S

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Herman Miller Inc purchases Naughtone (Holdings) Ltd.

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Herman Miller Inc purchases HAY A/S from Nine United A/S

Insider Transactions
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Transaction Advisors
Escrow Agent

Advised onHerman Miller Inc purchases Design Within Reach, Inc. from Glenhill Capital Advisors LLC

Accountant

Advised onHerman Miller Inc purchases Geiger Group, Inc.

Legal Advisor

Advised onHerman Miller Inc purchases Design Within Reach, Inc. from Glenhill Capital Advisors LLC

Co-Chair, International Practice

Advised onHerman Miller Inc purchases Design Within Reach, Inc. from Glenhill Capital Advisors LLC

Legal Advisor

Advised onHerman Miller Inc purchases Maharam Fabric Corp.

Advisors & Consultants
Legal Advisor

Partner at Foley & Lardner LLP

Advisor

Founder at Morla Design

Legal Advisor

Partner at Norton Rose Fulbright

Clients

The Government of the United States of America is the federal government of the republic of fifty states that constitute the United States, as well as one capital district, and several other territories. The federal government is composed of three distinct branches: legislative, executive and judicial, whose powers are vested by the U.S. Constitution in the Congress, the President, and the federal courts, including the Supreme Court, respectively.

Key Stats and Financials As of 2019
Market Capitalization
$2.02B
Total Enterprise Value
$2.25B
Earnings Per Share
$2.7
Revenue
$2.57B
Enterprise Value Sales
0.87x
TEVNet Income
13.99x
Debt TEV
0.13x
Total Equity
$740M
Net Profit
$160M
Total Debt
$285M
EBITDAMargin
11.13%
Enterprise Value EBITDAOperating
7.86x
EBITDA
$286M
Five Year Compounded Annual Growth Rate Of Revenue
6.41%
Three Year Compounded Annual Growth Rate Of Revenue
4.26%
Non-Profit Donations & Grants
Suppliers
Leggett & Platt, Inc. Industrial Machinery & Manufacturing | Carthage, MO

Leggett & Platt, Inc. engages in the manufacture and distribution of furniture and engineered components; and products among homes, offices, automobiles, and commercial aircraft. It operates through the following segments: Bedding, Flooring & Textile, and Specialized Products. The Bedding Products segment supplies of products and components for the home, including mattress springs and specialty foam, as well as adjustable beds, bedding machinery, steel rod, and drawn wire. The Flooring & Textile Products segment is a producer of an extensive line of components and engineered systems for office, residential, and contract furniture manufacturers. The Specialized Products segment supplies titanium, nickel, and stainless steel tubing for the aerospace industry, and serve the construction market with hydraulic cylinders group. The company was founded J. P. Productsand C. B. Platt in 1883 and is headquartered in Carthage, MO.

MDC Partners, Inc. Other Business & Consulting Services | New York, NY

MDC is a Business Transformation Organization that utilizes technology, marketing communications, data analytics, and strategic consulting solutions to drive meaningful returns on Marketing and Communications Investments for multinational clients in the United States, Canada, Europe, and the Caribbean. MDC’s durable competitive advantage is to Empower the Most Talented Entrepreneurial Thought Leaders to Drive Business Success to new levels of Achievement, for both our Clients and our Shareholders, reinforcing MDC's reputation as "The Place Where Great Talent Lives." MDC Partners' Class A shares are publicly traded on the NASDAQ under the symbol "MDCA" and on the Toronto Stock Exchange under the symbol "MDZ.A".

Biesse SpA Industrial Machinery & Manufacturing | Pesaro, Ita

Biesse SpA is engaged in the design, manufacture, and marketing of technologies and solutions for joiners and large furniture, windows, doors, and wood building components. It operates through the following divisions: Wood, Glass and Marble, Mechatronics, Tooling, and Components. The Wood division involves in the production, distribution, installation, and after-sales service of panel processing machines and systems. The Glass and Marble division specializes in the development of glass and marble processing machines. The Mechatronics division manufactures industrial mechanical and electronic components. The Tooling division produces grinders and tools carrying the Diamut brand. The Components division makes mechanical parts for wood and glass and marble processing machines. The company was founded by Giancarlo Selci in 1969 and is headquartered in Pesaro, Italy.

Competitors
Steelcase, Inc. Equipment & Office Supplies - Grand Rapids, Michigan

Steelcase, Inc. engages in the provision of furnishing solutions, and architecture, furniture, and technology products. It operates through following segments: Americas, EMEA, and Others. The Americas segment serves customers in the United States (U.S.), Canada, the Caribbean Islands, and Latin America. The EMEA segment serves customers in Europe, the Middle East and Africa primarily under the Steelcase and Coalesse brands. The Other segment includes Asia Pacific, Designtex, and PolyVision. The company was founded by Peter Martin Wege, Walter D. Idema, and David Hunting on March 14, 1912 and is headquartered in Grand Rapids, MI.

HNI Corp. Equipment & Office Supplies - Muscatine, IA

HNI Corp. is engaged in the manufacturing and trading of office furniture. It operates through two segments: Office Furniture and Hearth Products. The Office Furniture segment manufactures storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions and panel systems. The Hearth Products segment develops and markets gas, electric, wood and biomass burning fireplaces, inserts, stoves, facings and accessories. The company was founded by C. Maxwell Stanley, Clem Hanson and H. Wood Miller in 1944 and is headquartered in Muscatine, IA.

Knoll, Inc. Equipment & Office Supplies - East Greenville, PA

Knoll, Inc. engages in the design and manufacture of commercial and residential furniture, accessories, and coverings. It operates through the following business segments: Office, Corporate. The Office segment includes systems, seating, storage, tables, desks, and KnollExtra ergonomic accessories. The Lifestyle segment includes Knollstudio, Holly Hunt, Datesweiser, Muuto, Knoll Textiles, Spinneybeck and Edelman leather. The company was founded by Hans G. Knoll and Florence Knoll in 1938 and is headquartered in East Greenville, PA.

Awards & Honors
Rank #932
2016
Fortune Magazine - Fortune 1000 Companies
Sponsored by Fortune Magazine
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