An affiliate of private investment firm Sun Capital Partners (Sun Capital), has made an investment in Mancini’s Sleepworld (Mancini’s” or “the Company”), a mattress retailer serving the Northern California market. Terms of the private transaction have not been disclosed.
Founded by the Mancini family in 1969, Mancini’s Sleepworld sells leading brand mattresses and other sleep products such as adjustable bed frames. Randy Mancini, a second-generation owner, has built the successful business to [approximately][Seems odd to appear not to know the precise number of locations] 33 locations throughout the Bay area.
“Mancini’s is in Sun Capital’s sweet spot: a family-owned business in an industry that Sun Capital knows well and where we have had a track record of success,” said Marc Leder, Co-CEO of Sun Capital. “The Company’s success is a testament to Randy Mancini and Marc Fey’s hard work and business acumen, and we appreciate their trust in Sun Capital’s ability to partner with them in growing the business.”
The US bedding industry has grown by approximately 4% annually over the past 20 years and Mancini’s has consistently outperformed this benchmark.
“I have been impressed by Sun Capital’s ability to support the business and its management team and help us navigate the current environment in the locations we are open for business,” says Randy Mancini. “Sun Capital’s focus on supporting sales growth and leveraging its experience in mattress retailing will be invaluable to the company going forward.”
Sun Capital has extensive experience in the mattress industry through its current investment in Dreams, the UK’s leading bed and mattress specialist and previous investments in US mattress retailer Mattress Firm and foam mattress manufacturer, Innocor.
“Sun Capital looks forward to partnering with Marc Fey, who has been promoted to CEO of the company, Randy Mancini, Chairman, and the rest of the management team, including the impressive sales professionals who do such an excellent job serving Mancini’s customers,” said Matthew Garff, Managing Director at Sun Capital. “We see significant opportunity to benefit from Mancini’s strong reputation to grow sales in-store and via e-commerce as well as to expand Mancini’s geographic footprint.”
