Steelcase Inc. (SCS)

Steelcase Inc. was founded in 1912 in Grand Rapids, Michigan, as the Metal Office Furniture Company, and it took the Steelcase name in the 1950s. Over the following century it became one of the largest makers of office furniture in the world, helping to establish Grand Rapids as a center of the American furniture industry. The company remained headquartered in Michigan and operated manufacturing, design and distribution facilities in North America, Europe and Asia.

The business designed and sold furniture systems, seating, desks, tables, storage, lighting and architectural walls and pods, along with accessories, technology and mobile power products. It reported its results through geographic segments covering the Americas, EMEA and an Other category, and it sold mostly through a network of independent dealers, with additional direct sales to large customers. Customers included corporate offices, government agencies, healthcare providers, schools and universities, and retailers.

Beyond the flagship Steelcase brand, the company assembled a family of specialty brands. These included Coalesse for lounge and residential-style workplace furniture, Designtex for textiles and surface materials, Smith System for education furniture, AMQ for healthcare seating, and the European brands Orangebox and Viccarbe, which were added through acquisitions around 2020 and 2021. It also offered workplace strategy and consulting services intended to help customers plan their office space.

Steelcase completed its initial public offering in February 1998, and its Class A common stock traded on the New York Stock Exchange under the symbol SCS. The company reports on a fiscal year that ends in February. Like other office furniture makers, it faced pressure from the rise of remote and hybrid work after 2020, which reduced demand for traditional office layouts, while customers shifted toward flexible, collaborative and hospitality-style workspaces.

On August 4, 2025, Steelcase announced a definitive agreement to be acquired by HNI Corporation, a Muscatine, Iowa-based maker of workplace furnishings and residential building products that is also listed on the New York Stock Exchange. Under the agreement, each Steelcase share would be exchanged for $7.20 in cash and 0.2192 of an HNI share, in a transaction valued at roughly $2.2 billion. The companies said the combination would create a broader workplace furnishings business with a larger dealer network and wider product range.

The transaction required approval from Steelcase shareholders and customary regulatory clearances. After those conditions were satisfied, the acquisition closed on December 10, 2025, and Steelcase became part of HNI. An SEC Form 25 was filed that day to remove Steelcase's Class A common stock from listing and registration on the New York Stock Exchange, and the stock no longer trades under the symbol SCS. Former Steelcase holders who received HNI shares may trade them under the HNI ticker.