Clearwater International advises Maars Living Walls on its sale to HermanMiller
Clearwater International advises Maars Living Walls on its sale to Herman Miller
Clearwater International has advised Lourens Maars, the owner of Maars Living Walls (Maars), the worldwide leader in interior wall solutions, on its sale to Herman Miller, a global furniture designer and producer, together with a group of investors, consisting of Herman Miller, several dealers, and management.
Maars designs and produces high-quality customised wall solutions for offices, care and cure facilities, airports, hotels, and universities. The wide range of products have a refined design, are high quality, and demonstrate worldwide leadership in fire and sound certificates, and sustainability. The company’s customers include Dow Jones, General Electric, Google, IBM, and Microsoft. Founded in 1946 in Amsterdam and headquartered in Harderwijk, Maars has a staff of around 300 employees. In 2017 the company generated revenue of €67m, 70% coming from abroad.
Herman Miller is a globally recognised provider of furnishings, related technologies, and services. The 113-year-old company is headquartered in West Michigan, US. The company’s innovative product portfolio has received numerous awards, including the Smithsonian Institution’s Cooper Hewitt National Design Award and a number one ranking on Contract Magazine’s list of “Brands that Inspire”, for four consecutive years. With nearly 8,000 employees worldwide, the company generated €2.16bn ($2.28bn) in revenue in 2017. Herman Miller trades on the NASDAQ Global Select Market, under the symbol MLHR.
This acquisition enables Maars to expand its business activities in the US, leveraging Herman Miller’s distribution network.
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