Knoll Acquires FilzFelt, Richard Schultz Design

All is well at Knoll. The mod furnishings company powered through 2011, picking up a Cooper-Hewitt National Design Award along the way to a 14% year-over-year increase in net sales, to $922.2 million. With an eye to further expanding its high-margin, high-design “Specialty” business, Knoll recently announced a pair of acquisitions. The company has purchased Boston-based FilzFelt, the go-to source for German-milled wool design and craft felt. Founders Kelly Smith and Traci Roloff will continue in their executive roles at FilzFelt.