Millerknoll, Inc. · NASDAQ:MLKN

Millerknoll — Miller Herman — Merger or Acquisition (June 2018)

15 slides from Millerknoll's merger presentation, Jun 7, 2018

  1. Slide 1: Transaction Highlights June 2018

    11 Transaction Highlights JUNE 2018

  2. Slide 2: HAY Company Snapshot

    HAY COMPANY SNAPSHOT 2 High design European Headquarters: Denmark Revenue Growth (4 Yr. CAGR): 14% brand offering furniture Founded: 2002 FY18 Forecast (Year Ended July 2018): and accessories products Employees: ~180 Revenue: $155M for consumer and Geographic Presence: EBITDA Margin: 10% contract ma

  3. Slide 3: HAY Design Leadership

    HAY DESIGN 3 LEADERSHIP Rolf and Mette Hay are the husband-and-wife duo behind HAY. Rolf began his career working for various design companies in Denmark and teaching himself design and design development, while Mette’s parents ran a design store. In 2002, the couple founded HAY as a contemporary de

  4. Slide 4: HAY Portfolio

    HAY PORTFOLIO 4 HAY brings a growing portfolio of beautifully designed furnishings and accessories to the Herman Miller family of brands. Today, they offer 180 styles of furniture and more than 350 accessory options. Here are just a few examples...

  5. Slide 5: Accessories

    ACCESSORIES 5

  6. Slide 6: Dining

    DINING 6

  7. Slide 7: Lounge & Outdoor

    LOUNGE & OUTDOOR 7

  8. Slide 8: Office

    OFFICE 8

  9. Slide 9: Seating

    SEATING 9

  10. Slide 10: HAY Brand Recognition

    HAY BRAND RECOGNITION 10 #9 on Dezeen* Brands Strong Social Media Following* Hot List for the past 2 years 2017 2016 2,000,000 1,800,000 1. IKEA 1. IKEA 1,600,000 2. Muji 2. Apple 1,400,000 3. Apple 3. Adidas 1,200,000 4. Adidas 4. Google 1,000,000 5. Airbnb 5. Nike 800,000 600,000 6. Google 6. Aeso

  11. Slide 11: HAY Transaction Highlights

    HAY TRANSACTION HIGHLIGHTS 11 I. 33% Equity Investment in HAY – $66M cash investment – EBITDA multiple of 14x – Expected to account for as a non-consolidated equity investment – Option to increase ownership percentage in the future – Year 1 (FY19) estimated accretion of $0.02 to $0.04 per share for

  12. Slide 12: Herman Miller Strategic Priorities

    HERMAN MILLER STRATEGIC PRIORITIES 12 Investments in HAY directly impact two of our strategic priorities:

  13. Slide 13: Herman Miller Strategic Priorities (Consumer)

    HERMAN MILLER STRATEGIC PRIORITIES 13 –– Wholesale/Retail accounts for nearly 60% of HAY’s revenue ––Aspirational brand for High Earners Not Rich Yet (“HENRY”) segment ––Broadens price points within our Consumer product offer ––Expands accessories and cash and carry options for DWR studios ––Near-te

  14. Slide 14: Herman Miller Strategic Priorities (Contract)

    HERMAN MILLER STRATEGIC PRIORITIES 14 –– Approximately 40% of HAY’s revenue comes from serving Contract customers ––Expands offering in fast growing ancillary or “resi-mercial” category ––Enhances our opportunity to increase share of wallet within our global network of over 600 dealers ––Creates a s

  15. Slide 15: Slide 15

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