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HIG Europe acquires Silentnight

Funds advised by HIG European Capital Partners LLP and its debt affiliate Bayside Capital have acquired Silentnight, Ltd. the UK’s leading bed & mattress manufacturer. This is after Silentnight was forced to file for administration following unsuccessful negotiations with the Pension Protection Fund over the company’s unserviceable pension deficit.

The deal with HIG Europe secures the future of the Lancashire-based Silentnight and safeguards the jobs of its 1,250 employees.

HIG Europe will take full ownership of Silentnight’s ongoing business interests, including its brands and all other assets. The acquisition of Silentnight marks H.I.G. Europe’s twelfth new deal investment in the last 12 months and sixth since the start of 2011.

Mark Kelly (pictured), of HIG Europe, says: “Silentnight is a strong, profitable business with a leading position as the largest manufacturer in its sector throughout the UK and Ireland. We are delighted to have acquired a business of this standing and heritage, and look forward to working with the current management team to further strengthen and develop its position over the coming years.”

Lionel Laurant, of Bayside Capital, says: “Silentnight had been starved of capital for many years but still retains a strong brand with a powerful market presence. H.I.G Europe will invest in the business to support core growth and to develop new business lines.”

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