HNI Corp.

HNI Corp.

HNI Corp.

Overview
Date Founded

1944

Headquarters

408 East 2nd Street,Muscatine, IA 52761-4140

Type of Company

Public

Employees (Worldwide)

8,500

Industries

Equipment & Office Supplies
Retail: Home Improvement
Industrial Machinery & Manufacturing
Furniture
Other Manufacturing

Company Description

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.

Contact Data
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Executives & Employees

Chairman of the Board, President & Chief Executive Officer

Senior Vice President, Chief Financial Officer & Principal Accounting Officer

Secretary, Senior Vice President & General Counsel

President, Maxon Furniture Inc

Executive Vice President, President, Hearth & Home Technologies

Benefit Plan Administrator

Senior Vice President, President, HNI International

Vice President, Investor Relations & Corporate Development

President, Lamex-China

Associate General Counsel

Board of Directors

Chairman of the Board, President & Chief Executive Officer at HNI Corp.

Professor at University of Chicago - Booth School of Business

Independent Business Consultant at HNI Corp.

Senior Vice President, Public Affairs & General Counsel at Deere & Co.

Co-Founder at Corporate Leadership Center

Director at HNI Corp.

President at DUO-FAST Corp.

Former Chief Executive Officer at The Homax Group, Inc.

Managing Director at Blackrock Microsystems LLC

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Owners & Shareholders
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Clifford Capital Partners LLC is an American private company located in Alpine, UT, that provides investment advice. The firm was founded in 2010 by Ryan Page Batchelor and Wayne George Pierson.

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Aristides Capital employs customized asset allocation strategies across multiple asset classes and manages absolute return strategies in the long/short, convertible arbitrage and merger arbitrage categories. The firm invests in US equities, foreign equities, emerging market equities, private equity, domestic bonds, high yield bonds, foreign bonds, inflation indexed bonds, absolute return strategies, managed futures and real estate. Aristides Capital's long/short strategy is based primarily on operational metrics and focuses on companies that have little coverage from analysts.

Recent Transactions
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Jasper Seating Co., Inc. purchases Paoli LLC from HNI Corp.

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Interior Environments, Inc. purchases Connect People & Space LLC from HNI Corp.

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HNI Corp. purchases OFM LLC from Gen Cap America, Inc.

Insider Transactions
Transaction Advisors
Legal Advisor

Advised onHNI Corp., Hearth & Home Technologies, Inc. purchase H-TEK, Inc.

Accountant

Advised onHNI Corp. purchases Lamex Group

Accountant

Advised onHNI Corp. purchases Allsteel, Inc. from BTR Plc

Advisors & Consultants
Legal Advisor

Partner at Jones Day

Special Advisor

Former Chairman, President & Chief Executive Officer at HNI Corp.

Legal Advisor

Partner at Faegre Baker Daniels LLP

Clients

Genuine Parts Co. engages in the distribution of automotive replacement parts, industrial replacement parts, office products and electrical/electronic materials. It operates through the following segments: Automotive, Industrial, Office Products, and Electrical/Electronic Materials. The Automotive segment distributes replacement parts, other than body parts for substantially all makes and models of automobiles, trucks, and other vehicles. The Industrial segment distributes a wide variety of industrial bearings, mechanical and fluid power transmission equipment, including hydraulic and pneumatic products, material handling components, and related parts and supplies. The Office products segment distributes a wide variety of office products, computer supplies, office furniture, and business electronics. The Electrical/Electronic Materials segment distributes a wide variety of electrical/electronic materials, including insulating and conductive materials for use in electronic and electrical apparatus. The company was founded by Carlyle Fraser on May 7, 1928 and is headquartered in Atlanta, GA.

Office Depot, Inc. engages in the provision of office products, services, supplies, and technology solutions. It operates through the following segments: Retail, Business Solutions, and CompuCom. The Retail segment involves in selling merchandise through chain of office supply stores and offers products and services in the categories of supplies, technology, and furniture and other. The Business Solutions segment trades branded and private branded products and services and provides copy and print services. The CompuCom segment comprises procurement, installation, and managing the life cycle of hardware and software businesses; and offers information technology (IT) support services including remote help desk, data centers, and on-site IT professionals. The company was founded by F. Patrick Sher, Stephen Dougherty, and Jack Kopkin in March 1986 and is headquartered in Boca Raton, FL.

Staples is the world's largest office products company and a trusted source for office solutions. We provide products, services and expertise in the categories of office supplies, technology, furniture, Copy & Print, and cleaning and breakroom. Staples was founded in 1986, and today has annual sales of $25 billion, ranking second in the world in eCommerce sales. With 90,000 associates worldwide, Staples has a presence in more than 26 countries throughout North and South America, Europe, Asia and Australia — bringing easy to offices and consumers everywhere. Staples headquarters is located outside of Boston, Massachusetts.

Key Stats and Financials As of 2019
Market Capitalization
$1.4B
Total Enterprise Value
$1.83B
Earnings Per Share
$2.54
Revenue
$2.25B
TEVNet Income
16.56x
Debt TEV
0.14x
Enterprise Value Sales
0.81x
EBITDA
$231M
Total Debt
$258M
Total Equity
$584M
Net Profit
$110M
EBITDAMargin
10.29%
Enterprise Value EBITDAOperating
7.57x
Three Year Compounded Annual Growth Rate Of Revenue
0.65%
Five Year Compounded Annual Growth Rate Of Revenue
0.22%
Non-Profit Donations & Grants
Political Donations
Investments
Details Hidden

La Casa Ventures, Inc. operates as a furniture rental company that rents home and office furniture. The firm helps businesses lease and rent furniture, fixtures and decor. The company was founded by Carlos N. Escutia, Shashank Pookala Shankaranarayana and Madhusudan Arun Kagwad and is headquartered in Emeryville, CA.

Investors
Details Hidden

President & Chief Executive Officer at Atmosphere Commercial Interiors LLC

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.

Culp, Inc. Wholesale: Consumer Non-Durables/Sundries | High Point, North Carolina

With four decades of innovation and quality, Culp (NYSE: CFI) supplies a wide range of mattress and upholstery fabrics across the globe. From our headquarters in High Point, NC, we carefully manage a fully integrated platform of manufacturing and distribution facilities strategically located in the U.S., China, Canada and Poland. Our robust supply chain allows us to quickly respond to the needs of our customers. We deliver fashion-forward, stylish fabrics with broad appeal to the largest home furnishing retailers and manufacturers. Culp has evolved from a regional supplier to a global partner for a wide range of customers. Founded by Robert G. Culp, Jr. in 1972, Culp’s focus on continuous improvement in its manufacturing operations and a trend-savvy design team helps customers drive sales and grow market share on a global basis. At Culp, everything we do, from logistics to quality control, reflects a clear understanding of our customer’s business objectives

Unifi, Inc. Textiles | Greensboro, NC

Headquartered in Greensboro, NC, Unifi, Inc. is a leading producer and processor of multi-filament polyester and nylon textured yarns. We provide innovative, global textile solutions and unique branded yarns for customers at every level of the supply chain. Our vast range of capabilities, state-of the art machinery and automation provide us with the needed flexibility to competitively operate on a global platform. Our core business consists of the manufacturing of POY (partially-oriented yarn), the texturing, air-jet texturing, twisting, and beaming of polyester and the texturing and covering of nylon filament yarns. Additionally, we have a large package dyeing operation, where we are able to dye a wide range of substrates. Unifi yarns can be found in many products, including apparel, hosiery, automotive, industrial applications and home and contract furnishings. Driven by innovation and committed to global product commercialization, our goal is to provide customers and consumers with products that enhance the value of everyday products. Customers that choose to do business with Unifi have quick access to the newest products, including Unifi's portfolio of branded products. Some of these products include aio® -- all-in-one performance yarns, SORBTEK® A.M.Y.®, MYNX® UV, REPREVE®, REFLEXX®, INHIBIT® and SATURA®. These branded products can be found in many products manufactured by the world's leading brands and retailers. Founded in 1971, Unifi has evolved into one of the most diversified producers of synthetic filament yarns. With renewed momentum and a commitment to strengthen the company and shareholder value, Unifi is positioned for success. The Company continues to drive growth organically through increased support of branded products and a continued focus on operational excellence.

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.

Herman Miller Inc Equipment & Office Supplies - Zeeland, MI

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

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 #890
2016
Fortune Magazine - Fortune 1000 Companies
Sponsored by Fortune Magazine
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