Sun Capital Leverages Prior Retail and Bedding Industry Expertise in Making Acquisition
BOCA RATON, Fla.–(BUSINESS WIRE)–Sun Capital Partners, Inc. (“Sun Capital” or “Sun Capital Partners”), a leading private investment firm specializing in leveraged buyouts and investments in market-leading companies that can benefit from its in-house operating professionals and experience, today announced that an affiliate has completed the acquisition of Sleep Innovations (or the “Company”), a leading designer, manufacturer and marketer of memory foam products, including pillows, mattress toppers and mattresses. Terms of the private transaction, which was announced on October 18, 2012, were not disclosed.
Sleep Innovations, headquartered in West Long Branch, New Jersey, manufactures standard and specialty polyurethane foam sold to end markets for use in bedding, furniture, auto, packaging and consumer products, and to be sold through the Company’s retail division. Sleep Innovations’ retail brands include Novaform, Bodipedic and Sleep Innovations, and it also sells products under licensed and private retail brands.
Sleep Innovations has strong R&D capabilities and introduced more than 70 new products in 2011, including a revolutionary gel-infused memory foam, and has more than 140 new products currently in development. The Company’s product development capabilities are supported by state-of-the-art foam pouring and fabricating facilities located throughout the country. Sleep Innovations products can be found in multiple retail outlets including warehouse clubs, department stores, and through e-commerce sites.
“Sun Capital has deep experience in the bedding market, most notably with bedding product retailer Mattress Firm, which was successfully exited in 2007 at an attractive return,” said Marc Leder, Co-Chief Executive Officer at Sun Capital. “Sleep Innovations will benefit from our extensive experience in the bedding and retail industries as the Company looks to continue on a growth path.”
About Sun Capital Partners, Inc.
Sun Capital Partners, Inc. is a leading private investment firm focused on leveraged buyouts, equity, debt, and other investments in companies that can benefit from its in–house operating professionals and experience. Sun Capital affiliates have invested in 310 companies worldwide with combined sales in excess of $45 billion since Sun Capital’s inception in 1995. Sun Capital has offices in Boca Raton, Los Angeles, and New York, as well as affiliates in London, Paris, Frankfurt, Luxembourg, Shanghai and Shenzhen. For more information, please visit www.SunCapPart.com.
About Sleep Innovations
Sleep Innovations is the leader in consumer-driven foam products, proven to deliver comfort, relaxation and rejuvenation. The company designs and manufactures advanced, memory foam products, including pillows, mattress toppers and mattresses. Through extensive clinical testing, Sleep Innovations® has found that its foam solutions help to improve the quality of its consumers’ lives through better sleep. For more information, visit www.sleepinnovations.com.