Bailey’s office equipment company has raised $1.8bn from new investors
Bailey’s Office Equipment Company has raised a record $1,871 million in new funding from investors including Kleiner Perkins Caufield & Byers and BlackRock.
The company said it plans to spend about $1 billion to buy new equipment, renovate its headquarters in Seattle, and expand its presence in China.
Bailey’s office furniture and office supplies are among the most popular products sold by the company, which was founded in 2000.
It sells about 20 million pieces of furniture a year and employs about 2,200 people worldwide.