CBI EXPANDS WITH THE ACQUISITION OF LONG-STANDING ALLSTEEL DEALER CSI FULLMER

Rhea-AI Summary

Allsteel Inc. announces that Corporate Business Interiors, Inc. is acquiring CSI Fullmer to expand its business reach and strengthen its presence in the LA market. The acquisition will enhance internal support teams and allow better service to clients in LA and Orange County.

Positive

• Corporate Business Interiors, Inc. is acquiring CSI Fullmer to expand its business reach and strengthen its presence in the LA market.
• The acquisition will enhance internal support teams and allow better service to clients in LA and Orange County.

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• None.

MUSCATINE, Iowa, May 2, 2023 /PRNewswire/ -- Allsteel Inc., a leading manufacturer of contract furnishings, announces that Corporate Business Interiors, Inc. (CBI), a Southern California family-owned company and aligned dealer of Allsteel, is acquiring another Southern California Allsteel dealer, CSI Fullmer. CBI will be acquiring the CSI Fullmer location in Pasadena to better serve Los Angeles-based clients, advance its business reach, and further solidify its leadership strength in the LA market. CBI anticipates that the acquisition will grow and enhance internal support teams, allowing it to better serve all its clients in both LA and Orange County.   

CBI EXPANDS WITH THE ACQUISITION OF LONG-STANDING ALLSTEEL DEALER CSI FULLMER

CBI services many industries and organizations from small businesses to Fortune 500 companies in commercial, education, healthcare, and government channels. "The Los Angeles market is six times larger than the Orange County market, so it offers tremendous growth potential for CBI," said Darren Stiles, CBI President. "We've been serving LA clients successfully for the past 43 years, and with our recent leadership and staffing additions in LA, the acquisition of CSI Fullmer will enhance our presence in LA enabling us to grow our business exponentially, while better serving our LA-based real estate brokers, architect and design firms with more responsiveness and convenient local offices."

CSI Fullmer has long-standing relationships with public sector organizations in the area, including higher education and government agencies, providing expertise and a client-base that will expand CBI's portfolio. Existing team members and clients of CSI Fullmer will be transitioned to CBI, allowing clients to maintain the same relationships that the CSI Fullmer team has built. As CSI Fullmer's #1 manufacturer partner, Allsteel fully supports this acquisition and will play a role in helping transition CSI Fullmer clients seamlessly to CBI.

"With almost 50 years of industry experience, we were intentional as we explored options for selling our business," said Bill Baquet, CEO of CSI Fullmer. Adds Patty Owings, CSI Fullmer's Vice President, "It was important to us to find a dealer closely aligned with our culture and values that would support our clients and our team through the transition and elevate capabilities as we look to the future." This acquisition will allow CBI to better service all of Southern California, as well as the entire United States and abroad, while simultaneously building recognition of the Allsteel brand.

About Allsteel
Since 1912, Allsteel Inc. has offered a world-class, comprehensive range of workplace products and solutions. We simplify the office planning process by helping our customers align their workplace strategy with their business strategy. The result is fit-to-business solutions that deliver meaningful change in a way that works for them today, as well as tomorrow. The new Allsteel brand experience center is located in Chicago, IL, with additional showrooms in Boston, Chicago, Los Angeles, New York, San Francisco and Washington, D.C. For more information, visit www.allsteeloffice.com or follow Allsteel on Facebook, LinkedIn, Instagram, Pinterest and YouTube.

About CBI
Based in Newport Beach, Calif., CBI (Corporate Business Interiors, Inc.) is a family-owned company and aligned dealer of Allsteel, a subsidiary of HNI (NYSE: HNI), a manufacturer of high quality office furniture, architectural products and accessories. Founded in 1980, CBI has a proven 43-year track record of revolutionizing how work gets done, how space is utilized, and how employees interact within their workspace solutions for all business including corporate, healthcare, education, government and multifamily. CBI delivers a wide range of furniture solutions, architectural products, custom workspaces and services to help organizations maximize the value and use of their office environment. Learn more about CBI at www.cbihq.com

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SOURCE Allsteel

FAQ

Who is acquiring CSI Fullmer?

Corporate Business Interiors, Inc.

What is the purpose of the acquisition?

To expand its business reach and strengthen its presence in the LA market.

How will the acquisition benefit CBI?

It will enhance internal support teams and allow better service to clients in LA and Orange County.