Franklin Partners Advises Innovative Education Products Company in Sale
Smith System Manufacturing Company, a Texas-based manufacturer of progressive furniture designed to inspire better learning and improve outcomes for pre-K-12 students, has been acquired by Steelcase Inc. (NYSE: SCS).
Founded in 1905, Smith System makes educational environments inspiring, comfortable and healthy for students and educators.
“What teachers do day in, day out, flat-out humbles us. And we believe the right tools have a seriously positive impact for them. For us, those tools are seats, desks, commons areas, storage units and anything else that inspires better learning. Flexibility, versatility, comfort, style. It all matters. Because at the end of the day, it supports one cause. To enable the genius inside every student.”
“We believe that joining forces with Steelcase offers us a path to accelerate long-term growth, while maintaining the agility that has made us successful,” said Molly Parnell, Vice President of Sales at Smith System. “Steelcase and Smith System have complementary offerings and we look forward to growing our business together in pre-K-12, higher education, and corporate learning environments around the globe.”
Franklin Partners initiated and negotiated this transaction as the exclusive advisor to Smith System and its shareholder.