Michigan company acquires Sheboygan-based Nemschoff
Zeeland, Mich.-based Herman Miller Inc. has acquired Sheboygan-based Nemschoff Inc. through a combination of $32 million in cash and 2.0 million shares of Herman Miller stock.
Nemschoff designs and manufactures health care furnishings. Many of its products are also used in the commercial office and education markets
Herman Miller designs and manufactures of office furniture for corporate, government, home office, leisure, and health care markets.
"The acquisition of Nemschoff is a significant step in Herman Miller’s growth strategy and further evidence of our commitment to the healthcare market, where Herman Miller has been a leader for more than 40 years," said Brian Walker, Herman Miller chief executive officer. "In bringing Nemschoff into the Herman Miller Healthcare business we immediately expand our product breadth and depth and accelerate our healthcare strategy. We also believe Nemschoff will benefit as we introduce its products into our healthcare distribution channel, and that cost synergies exist in the combination of Herman Miller, Brandrud and Nemschoff."
Mark Nemschoff, chief executive officer of Nemschoff and Paul Nemschoff, chief operating officer of the company, will have roles with Herman Miller. Mark Nemschoff will join the Herman Miller Board of Directors and Paul Nemschoff will retain an executive role at Nemschoff and also join Herman Miller’s health care leadership team.
"Nemschoff is proud to offer our reputation, capabilities and product line to support Herman Miller’s healthcare strategy," Mark Nemschoff said. "We feel the combination of these companies will bolster each entity and we look forward to future success."
