9to5 Seating has been acquired by Norway-based Flokk, the leading European manufacturer of office seating and workplace furnishings, which will continue to build on 9to5’s growing presence in the U.S. contract office furniture market
Intrepid announced today that it acted as the exclusive financial advisor to 9to5 Seating (9to5), on its cross-border transaction with Flokk Group, a portfolio company of Triton Partners. Founded in California in 2004, 9to5 has quickly emerged as one of the leading independent manufacturers of office seating products in the U.S. 9to5’s unique combination of style, value, and quality, combined with its vertically integrated manufacturing model, has enabled the company to quickly gain share by meeting the comprehensive seating needs of the modern office.
Darius Mir, Founder and CEO of 9to5 remarked: “My wife Susan and I have been in the furniture industry for more than 30 years and we are very proud to pass the ownership of 9to5 to Flokk under the continued leadership of our son Dara. We strongly believe that they will further 9to5’s development into a market leader, while maintaining the strong cultural values of the company.”
“We have established a strong position in our markets and invested heavily in modern production facilities in California and China. We could not be more excited to join Flokk, which is well recognized across the industry as one of the most innovative and design-oriented manufacturers of workplace furniture,” commented Dara Mir, President of 9to5. “I look forward to leading the company into our next chapter and continuing to build on our family’s legacy for the benefit of our dedicated employees and customers. We cannot thank Intrepid enough for guiding us through this process and finding the right partner in Flokk.”
“With the acquisition of 9to5, we will take another significant step towards becoming a true international powerhouse in this industry. 9to5 is a well-run, fast-growing company with strong market positions which will bring substantial value to the group,” said Lars I. Røiri, CEO of Flokk. “By leveraging Flokk’s extensive manufacturing, logistics and go-to-market know-how, we believe we can take 9to5 to the next level and realize its high ambitions for the future.”
“Our work is most meaningful when we help families realize the value for their lifetime of work. We are honored to work with the Mir family and 9to5 in this most important project. We look forward to seeing 9to5 succeed under the ownership of Flokk and Triton,” said Gary Rabishaw, Managing Director at Intrepid.
Sidley Austin were the legal advisors to 9to5, led by David Grinberg.
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About Intrepid Investment Bankers
Intrepid provides M&A, capital raising and strategic advisory services to entrepreneurs and middle-market companies in various industry sectors. Our heritage breeds a culture that embraces teamwork, tenacity and creativity to help our clients win big. We believe that every company has an entrepreneurial passion that drives it and a story that defines it. Our team delivers results through skillful positioning and relentless execution. Based in Los Angeles, Intrepid augments its international capabilities through its active participation in Oaklins, an exclusive global alliance of M&A advisory firms.