Sleep Innovations, Inc. announced that it has signed a definitive agreement to be acquired by Sun Capital Partners, Inc., a leading private investment firm specializing in leveraged buyouts and investments in market-leading companies. Sleep Innovations is a leader in developing, manufacturing and marketing innovative polyurethane foam products that enhance comfort, relaxation and rejuvenation.
Founded in 1996, Sleep Innovations manufactures and markets memory foam mattresses, mattress toppers, pillows, and specialty products that are sold to leading U.S. retailers. The company, through its Advanced Urethane Technologies division, also produces polyurethane foam-based fabricated components and bulk materials sold to original equipment manufacturers serving the bedding, furniture, automotive, marine, medical and packaging markets.
Sleep Innovations has continued to grow by designing new products for use throughout the home. The firm, which pioneered the development of gel-infused memory foam, has gained wide consumer acceptance in several classes of trade. Through its EOS Innovation Center, the company has spearheaded the introduction of many new innovative products whose production is supported by Sleep Innovation’s state-of-the-art foam pouring and fabricating facilities located throughout the country.
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 the transaction.”
Michael Thompson, President and CEO of Sleep Innovations said, “Given its wide range of portfolio companies, financial strength and operating expertise, Sun Capital offers Sleep Innovations the breadth of financial and operating capabilities to support the future growth of the company.”
“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 a growth path.”
About Sleep Innovations : Sleep Innovations is the 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, mattresses, mattress protectors and home comfort, travel & pet products. Through clinical and consumer testing, Sleep Innovations has found that its breakthrough foam solutions help to improve the quality of its consumers’ lives.
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 more than 305 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.