After four generations of family ownership, Maharam is changing hands. The beloved New York City-based textiles firm, founded in 1902 by Louis Maharam, is being acquired by Herman Miller for $156 million, the company announced this week. “Much as we’ve struggled with this decision, our philosophical kinship with Herman Miller helped make this difficult step a far easier one,” said CEO Michael Maharam, who along with his brother, Stephen (who serves as COO), will remain active in the day-to-day management of the company for the next couple of years. “Herman Miller’s potential to provide the wherewithal to pursue important new initiatives, as well as an established reach into both retail and international markets and the greatest possible strength of association, offers a powerful lever in achieving our design-centered strategic vision.” Maharam is perhaps best known for its re-editions of iconic 20th century designs, including the work of Anni Albers, Charles and Ray Eames, and Alexander Girard. In recent years the company has developed textiles with collaborators such as Hella Jongerius, Paul Smith, Marian Bantjes, and Sarah Morris.