The Principals of CoBe Capital Acquire LSI Corporation of America

The Principals of CoBe Capital Acquire LSI Corporation of America 
MINNEAPOLIS, MN -- (Marketwired) -- 06/19/13 --  CoBe Capital, a
global private investment firm focused on operation of non-core and
underperforming business units, is pleased to announce today that its
principals have acquired LSI Corporation of America from a subsidiary
of HNI Corporation. Terms of the transaction were not disclosed. 
Headquartered in Minneapolis, Minnesota, LSI designs and manufactures
laminate casework. Having produced quality storage systems for over
four decades, LSI is a recognized industry leader in the casework
systems industry. Its durable storage systems are intended for
customers with many users and extended hours of use, such as
education, healthcare, laboratory and government facilities. 
Darren Chaffee, CoBe Capital's Managing Director, stated, "We are
excited to be the new owners of LSI Corporation of America. The
company has a rich history of product quality and customer service,
as evidenced by its strong dealer network and nationwide
relationships with architects and contractors." 
LSI currently operates out of two plants in the Minneapolis area and
its flexible manufacturing capabilities allow it to efficiently and
economically run jobs of any size and offer a wide array of
customization options. 
Darren Chaffee led the transaction on behalf of the principals of
CoBe Capital and will partner with LSI management to establish the
business as a standalone entity and accelerate its growth. 
About LSI Corporation of America 
LSI manufactures the laminate casework most often specified by
architects in America. Its success rests on a commitment to listening
to customers, creating innovative solutions that meet their needs and
refining its products through continual client feedback. LSI's
products are used throughout the educational, healthcare, industrial
and government markets. The company has been located in Minneapolis,
Minn., since 1968, manufacturing and installing case goods that make
its customers' environment more productive. 
About CoBe Capital 
CoBe Capital, a global private investment firm with a permanent
capital base, specializes in the acquisition and operation of
non-core and underperforming business units in the Americas and
Europe from leading global corporations. CoBe Capital owns and
operates a diversified portfolio of companies and strives to achieve
long-term growth based on lean management and continuous improvement
business philosophies. CoBe Capital was founded by Neal Cohen in
1994. For more information on CoBe Capital, please visit 
About HNI Corporation  
HNI Corporation is a NYSE traded company providing products and
solutions for the home and workplace environments. HNI Corporation is
the second largest office furniture manufacturer in the world and is
also the nation's leading manufacturer and marketer of gas- and
wood-burning fireplaces. The Corporation's strong brands, including
HON(R), Allsteel(R), Gunlocke(R), Paoli(R), Maxon(R), Lamex(R),
HBF(R), Artco-Bell(TM), Midwest Folding Products(TM), ERGO(R),
Heatilator(R), Heat & Glo(R), Quadra-Fire(R) and Harman Stove(TM)
have leading positions in their markets. HNI Corporation is committed
to maintaining its long-standing corporate values of integrity,
financial soundness and a culture of service and responsiveness. More
information can be found on the Corporation's website at 
Media Contact 
Sherandoa Benitez
Tel. +1 (212) 338-0235 x1106
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