Stylex, a design-driven American commercial furnishings
manufacturer is the latest acquisition by Flokk, the European
office seating and furniture manufacturer. The purchase ¨C
expected to close on January 31, 2024 ¨C comes at a pivotal
moment, solidifying Flokk¡¯s presence in the U.S. market and
making Stylex part of Flokk¡¯s global portfolio of brands.
Stylex will continue to operate independently as a brand in the
Flokk portfolio, led by CEO Bruce Golden. Since its founding in
1956 by the Golden family, Stylex has demonstrated success and
dedication to crafting beautiful and functional products. Stylex
headquarters and production facility are located in Delanco, New
Jersey, with showrooms in New York City and Chicago and annual
sales of about $50 million.
¡°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¡± says Bruce
Golden.
With a history defined by successful organic growth and
strategic acquisitions, Flokk has emerged as the European market
leader in workplace seating and furniture with annual revenues
of roughly EUR 400 million. The seamless integration of Stylex
perfectly aligns with Flokk¡¯s comprehensive growth strategy,
reinforcing its commitment to becoming a global industry
powerhouse. Following the acquisition of Stylex, Flokk will have
acquired eight new brands to strengthen its portfolio in the
last nine years.
Lars I. Røiri, CEO of Flokk, emphasizes the profound
significance of Stylex¡¯s integration, stating, ¡°Stylex perfectly
complements 9to5 Seating, our current US-based brand. 9to5 from
the West Coast is particularly strong within task 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 also deepen
our global engineering synergies.¡±
Source: workplaceinsight.net