Flokk boosts US position through acquisition of Stylex

Oslo (Norway), 4 January 2024 – Flokk, a Triton portfolio company and the leading European manufacturer of office seating and furniture, has signed an agreement to acquire US-based Stylex, to further strengthen its position in the US-market. The transaction is expected to close on 31 January 2024.

Since acquiring the company in 2014, Triton has transformed Flokk from a Nordic task chair specialist to the European market leader in office seating and furniture. This has been achieved by increasing its geographical reach; widening its product offering and client segmentation; and upgrading its digital business model.

Following the acquisition of Stylex, Flokk will have completed eight add-on acquisitions under Triton’s ownership, including the company’s current US operation – 9to5 Seating –which together with Stylex will bring Flokk’s group revenues to ca. EUR 400 million.

Lars I. Røiri, CEO of Flokk, said “Stylex perfectly complements 9to5 Seating, our current US-based brand. 9to5 Seating from the West Coast has its strengths in task and meeting chairs, while Stylex from the East Coast is particularly strong within soft seating. Strong growth for 9to5 Seating combined with the acquisition of Stylex means the US strengthens its position as our biggest market by a substantial margin, creating a balance between Europe and North America and increased diversification for Flokk. This will increase our robustness across cycles and deepens our global engineering synergies.”  

Bruce Golden, CEO of Stylex, said: “Stylex brings a completely new and diverse product portfolio to Flokk's family of global brands, bringing our unique approach to innovation and design. Flokk is also a recognized sustainability leader in our industry, and the acquisition will open new opportunities to take the Stylex brand to the next level in terms of supply chain, production, and market access.”