Seattle, Washington | February 28, 2017 – Meridian Capital LLC (“Meridian”) is pleased to announce the successful divestiture of Artco-Bell Corporation (“Artco-Bell”) from HNI Corporation (“HNI”), the world’s second largest, publicly-traded office furniture manufacturer, with brands such as HON and AllSteel.
Artco-Bell was acquired by CounterPoint Capital Partners, LLC, a Los Angeles-based private equity group focused on opportunities with niche manufacturing and industrial companies. In connection with the transaction, Meridian served as the exclusive advisor to HNI Corporation.
Based in Temple, Texas, Artco-Bell is a leading designer and manufacturer of K-12 furniture in North America. Leveraging more than 50 years of experience in primary education, Artco-Bell has navigated a shift from the traditional classroom model toward a ‘progressive education’ ecosystem. The divestiture to CounterPoint will enable Artco-Bell to continue its transition into a leading manufacturer of progressive education furniture.
“We thoroughly enjoyed working with the HNI and Artco-Bell management team on this important transaction. The professionalism of the entire HNI team is truly exceptional, and we are proud to have worked alongside such a remarkable company.” said Patrick Ringland, Managing Director of Meridian Capital.