“It’s, on some levels, a very big deal, alright? So, there’s the business aspect, there’s the community aspect.”
Dr. Paul Isely is Associate Dean of the Seidman College of Business at Grand Valley State University. The economics professor says Steelcase being sold to Iowa-based workplace furnishings manufacturer HNI is not completely surprising. He expects more acquisitions and mergers through the second half of 2025.
“And between COVID and tariffs and other things like that, there’s been a lot of supply chain problems, and so being bigger helps with that.”
Isely says stock market indicators reveal investors believe this was the right move for Steelcase. He also speculates the company will change very little in the short term. Steelcase will most likely remain in Grand Rapids, and the brand could flourish.
“It’s an opportunity where we have a company that’s going to have greater resources that can be leveraged, and it may allow growth that we couldn’t have done with just Steelcase autonomously. From the community’s perspective, Steelcase is part of our fabric; part of who West Michigan is. So, having it moved from being a company to being a brand within a company affects who we are and how we see our area.”
