Sleep Innovations, Inc. announced today that the company has been acquired by an affiliate of Sun Capital Partners, Inc. The private investment firm specializes in leveraged buyouts and investments in market-leading companies. Terms of the private transaction, which was announced on October 18, 2012, were not disclosed.
“Sleep Innovations is pleased to join the Sun Capital portfolio,” said Michael C. Thompson, President and CEO 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,” 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 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 are committed comfort, relaxation and rejuvenation. The company’s in-house design team also incorporates new styles, colors and textures during the product design process.
Diane Baker, Chairwoman of Sleep Innovations said, “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.”
About Sleep Innovations: Sleep Innovations, Inc. is a 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.
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.