Kirkland & Ellis advised Investindustrial VII L.P. on the sale of the outstanding shares of Knoll Inc.’s (NYSE: KNL) preferred stock to Herman Miller, Inc. (NASDAQ: MLHR) for a fixed cash consideration of $253 million. The sale is in connection with the closing of Herman Miller’s acquisition of Knoll in a transaction valued at $1.8 billion. Investindustrial has entered into a voting agreement to vote in favor of the transaction at the special meeting of Knoll shareholders to be held in connection with the transaction. The transaction is expected to close by the end of the third quarter of calendar year 2021 and is subject to customary closing conditions.
The Kirkland team was led by corporate partners Eric Schiele and Joshua Ayal, derivatives partner Jamie Madell, capital markets partner Tim Cruickshank, and debt finance partner Neel Sachdev.