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Knoll Stage: LBOs and Special Situations Date of Investment: 1996 Web Site : http://www.knoll.com Stock Symbol : NYSE: KNL |
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Knoll is one of the largest and most profitable office furniture manufacturers in the United States. In 1996, Warburg Pincus invested $147 million of equity to lead the $565 million acquisition of Knoll from Westinghouse. At the time, Knoll was undergoing a significant turnaround in its operations, having suffered poor results in the early 1990's. The company completed an initial public offering on the NYSE in 1997. In 1999, despite good operational results, Knoll's share price slid and Warburg Pincus, with Knoll's management, took the company private. This transaction closed in 1999. In 2004, Knoll had another IPO on the NYSE and once again began trading as a public entity.
