Takkt Homes in on National Business Furniture

Nov 13, 2005 10:06 PM  By

On Nov. 14, Milwaukee-based National Business Furniture agreed to be acquired by Takkt, the Stuttgart, Germany-based multititle merchant whose U.S. properties include industrial supplier K+K America, for $82 million. The deal must pass Hart Scott Rodino clearance given its size.

Takkt will assume control of National Business Furniture in January.

Founders George and Julie Mosher put National Business Furniture up for sale in June. New York-based investment bank Gruppo, Levey & Co. represents the sellers. The 30-year-old National Business Furniture had sales of $118 million last year. In addition to the eponymous catalog, National Business Furniture owns the Dallas Midwest and Alfax titles, which sell furniture primarily to schools, churches, and the federal government; OfficeFurniture.com; and FurnitureOnline, a Website selling furniture to consumers.

While Takkt couldn¹t be reached for comment, its Website contained a release explaining that Takkt¹s supervisory board had approved a purchase in a Nov. 4 meeting. Although the release did not mention National Business Furniture by name, multiple sources confirmed that National Business Furniture was indeed the acquisition target.

“Until now our position in this segment in North America was comparatively weak,” Georg Gayer, chairman of the Takkt management board, said in a statement. “The majority of [the acquisition’s] customers stem from the service sector, which is showing above-average growth. In future Takkt will be less dependent on the manufacturing sector.”

Takkt is a major business-to-business player in Europe and North America. Its Milwaukee-based K + K America division includes catalog titles C&H Distributors, which sells material handling and warehouse storage merchandise; occupational safety supplier Conney Safety Products; and food services sourcebook Hubert. Its Kaiser + Kraft Europa division includes office, businesss and warehouse equipment catalog Kaiser + Kraft; Gaerner, an office products title serving customers in Germany, Austria, and Switzerland; and office products title Gerdman¹s. Takkt’s third division, Topdeq, sells contemporary office furniture and decor in Europe and the U.S.