Sullivan, Wachtell Guide Design Co.'s $164M Investment Grab

Law360 (June 23, 2020, 4:00 PM EDT) -- Home and office furniture designer Knoll Inc. said Tuesday that it had received a $164 million investment from a subsidiary of an industrial-driven European group in a deal guided by Sullivan & Cromwell LLP and Wachtell Lipton Rosen & Katz.

Wachtell-advised Investindustrial VII LP purchased convertible stock with a 4.5% dividend that can be swapped for common stock for $16.75 per share. The entity, which consists of investment, holding and advisory companies, will also get a seat on Knoll's board.

Pennsylvania-based Knoll, advised by Sullivan & Cromwell, said the money would be used for general business purposes, including reducing debt....

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