San Carlos and San Francisco, CA (December 31, 2013) – In a pairing of equals, San Carlos-based Inside Source and San Francisco-based Young Office have merged their two commercial office furniture dealerships into a new entity called Inside Source/Young, announced Principals Dave Denny, Rose Young and Paul Stier. In the new company, Denny will serve as President.
Denny founded Inside Source in 1992. A leading Allsteel dealer in Silicon Valley since 1995, Inside Source was ranked No. 76 in 2013 among the 100 Fastest Growing Companies (SF Bay Area, Private Companies) by the San Francisco Business Times, reporting a 100.5 percent increase in revenue from 2010 to 2012.
Young and Stier have each been in the office furniture industry over 25 years. In 2006, the duo joined forces and began Young Office in San Francisco in partnership with HNI/Allsteel.
Terms of the new business formation were not disclosed.
Based in Muscatine, IA, HNI (NYSE: HNI) is the second largest office furniture manufacturer in North America. Allsteel was originally established in 1912 as All-Steel Equipment Co. and is one of HNI’s portfolios of companies.
Combined, Inside Source/Young instantly becomes one of Allsteel’s largest dealers on the West Coast with 2013 projected sales revenue in excess of $50 million.
“With Silicon Valley and San Francisco experiencing phenomenal growth, the timing of our merger with Young office could not be better. It will allow us to better serve tech companies in both San Francisco, Peninsula and Silicon Valley regions who want a single source for office furniture and related products and services,” said Dave Denny.
Inside Source has traditionally generated about 70 percent of its revenue from Silicon Valley, with most of its remaining sales coming from the San Francisco Peninsula and San Francisco by serving startup companies and Fortune 500 companies.
“We looked at ways to expand our market share in San Francisco and it would have been slow and expensive to increase our presence in the City. Rose and Paul have an excellent reputation in San Francisco and solid client relationships, which combined with the fact that both firms are Allsteel dealers, it made the merger highly attractive,” Denny added. “Their extensive experience with financial and law firms will also broaden our portfolio of markets.”
The new firm will have approximately 100 employees in sales, management, administration, design services, project management and operations. Inside Source/Young will continue to operate from locations in San Carlos (985 Industrial Road) and downtown San Francisco (733 Front Street).
“We’re excited to be part of a larger and locally-owned entrepreneurial company as a result of the merger and we firmly believe it will give us a leg up in the San Francisco business community. Paul and I built a strong organization in a relatively brief period of time and becoming Inside Source/Young will give us a bigger platform from which to work with expanded services and product lines – all the things that our clients want, yet without losing the high-touch services that we are known for,” said Rose Young.
Some of Inside Source’s clients include Extend Health, Stanford Law, AKQA, IA Interior Architects and a host of technology firms, such as Facebook, Box, Shutterfly, RocketFuel, Fire Eye, Evernote and Palo Alto Networks.
Young Office clients include Bank of the West, Brocade, Charles Schwab, Latham & Watkins, Morrison Foerster, Nixon Peabody, Squires Sanders and Woodruff Sawyer.
About Inside Source/Young
Inside Source/Young consults with firms to determine the look, feel and function of the workplace. These connected elements of occupancy strategy are fundamental to the future of organizational performance. Starting with creativity and nurturing a collaborative, entrepreneurial culture, Inside Source/Young works directly with clients as well as with architectural firms and general contractors to create dynamic work environments. Services include planning, development, design, furniture selection, project management, installation and post-installation support. In addition to products manufactured by Allsteel, the Company represents over 200 office furniture industry brands that supply workstations, desking, architectural walls, seating and collaborative furniture including Gunlocke, HBF, Paoli, HON, Tayco, Enwork, Human Scale, Harter and KI. To learn more, please go to insidesourceyoung.com.