Landon Capital Partners, LLC has announced that an affiliate of Landon acquired a majority interest in Blue Bell Mattress Company, LLC. The date and financial terms of the transaction were not disclosed. Mark Kolovson and Steve Byer will continue to hold a minority interest in Blue Bell.
Blue Bell, headquartered in Hartford, Connecticut, manufactures mattresses and mattress foundations for sale under the King Koil and Natura brand names as well as private label brands to bedding and furniture retailers. The company has been in operation for over 85 years making it one of the oldest and most established manufacturers in the industry, with well established relationships with some of the nation’s largest retailers throughout the country. Blue Bell also manufactures a full line of inner-spring, latex, hybrid and specialty foam mattresses across a broad range of retail price points, from promotional to high-end collections.
“We were attracted to Blue Bell based on its reputation as an exceptional supplier and its ability to provide a full suite of branded and private label products customized to meet the individual retailers’ needs,” said Chris Sullivan, managing partner of Landon. “We look forward to working closely with Chief Executive Officer Mark Kolovson and the company’s management team to grow the Blue Bell platform both organically and through strategic acquisitions.”
“We are excited to have Landon as our new partner as we embark on our next stage of growth,” Kolovson said. “Blue Bell is the largest domestic licensee of King Koil, the exclusive U.S. licensee of Natura for mattresses, and has the reputation ability to provide high-end private label collections tailored for large individual retailers. By combining the company’s strong platform and Landon’s expertise and capital we look forward to expanding our markets and brands.”
For more information, please visit bluebellmattress.com.
About Blue Bell Mattress: East Windsor, Conn.-based Blue Bell Mattress Co. Inc. is the largest U.S. licensee of King Koil brand products. Blue Bell sells King Koil branded and private-label innerspring and hybrid mattresses to bedding and furniture retailers serving customers in nearly 1,500 store locations from Maine to Florida, and as far west as Illinois. Founded in 1928, the company operates from a 200,000-square-foot facility. The owners of Blue Bell, a third-generation family-owned business, sold a majority stake in the company in 2014 to private equity firm Longroad Asset Management LLC, headquartered in Stamford, Conn.
About Landon Capital Partners:Landon Capital Partners (“LCP”) is the direct private equity investment group of the Landon Trust and its select family office co-investment partners. LCP invests in middle market private equity opportunities across multiple sectors including business services, healthcare services, food and beverage, and niche manufacturing. Preferred LCP investment targets display a high percentage of recurring revenue and strong free cash flow conversion and seek to leverage LCP’s flexible approach to partnership and long-term growth orientation.