Sleep Innovations, a specialist in designing and manufacturing sleep solutions and comfort products, has been acquired by an affiliate of Sun Capital Partners.
The private investment firm specialises in leveraged buyouts and investments in market-leading companies. Terms of the private transaction, which was announced on 18 October 2012, have not been disclosed.
“Sleep Innovations is pleased to join the Sun Capital portfolio,” says Michael C Thompson, president and chief executive of Sleep Innovations. “This partnership will fuel our continued investment in research and development, expand our operations, drive new product and category innovation and accelerate our strategic growth plan.”
“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,” says 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 its growth trajectory.”
Sleep Innovations introduced more than 70 new products in 2011 and has more than 140 new products currently in development. Through its EOS Innovation Center, Sleep Innovations manufactures products that deliver enhanced comfort, relaxation and rejuvenation. The company’s in-house design team also incorporates new styles, colours and textures during the product design process.
Diane Baker, chairwoman of Sleep Innovations says: “On behalf of the management team of the company and the board of directors, I am pleased that we delivered significant growth and value for our investors as a result of this transaction.”
