One of the affiliates of Longroad Asset Management has acquired a majority interest in Blue Bell Mattress Company, a Northeast licensee of King Koil. Located outside of Hartford, CT, Blue Bell sells both King Koil and private label innerspring and hybrid mattresses to bedding and furniture retailers and the northeast and mid-Atlantic states. Blue Bell serves more than 1300 store locations in its footprint, and is one of the largest providers of bedding products in its geography. It is a third generation family-owned business that has been manufacturing bedding products since 1928.
Blue Bell offers a broad range of retail price points, from promotional to high-end collections. As King Koil’s largest domestic licensee, Blue Bells offer the full brand assortments available under the King Koil label.
“Blue Bell Mattress Company is one of King Koil’s most longstanding licensees,” Dave Roberts, president and COO of King Koil, explained, “and through the successful efforts of CEO Mark Kolovson and COO Steve Byer, it has been our largest licensee for many years. We’ve enjoyed a great partnership with Blue Bell and are very excited that the company will continue on as a King Koil licensee.”
Anne Whitman, managing director of Longroad, said, “We were attracted to Blue Bell based on its reputation as an exceptional supplier due to its superior quality and operational efficiency to meet quick turn and high volume demand with its customers. We look forward to working with Mark Kolovson and Steven Byer.”
Blue Bell will continue to be managed by Mark Kolovson and Steven Byer, both of whom will hold a significant stake in the company.
Mark Kolovson, CEO of Blue Bell, said, “We are excited to have Longroad as our new partner as we embark on our next stage of growth. Their experience working with middle market companies to source add-on companies and expand markets will be an asset as we continue to build our business.”
Steven Byer, COO of Blue Bell, added, “We could not ask for a better scenario than having Longroad invest in our business. Longroad’s expertise will provide Blue Bell with the necessary resources and capital to expand and improve our operations."
“Longroad not only has great business insights but tremendous foresight with respect to the mattress industry," Roberts continued. "We’re very enthused about Longroad’s involvement and the opportunities that exist to take Blue Bell to another level.”
About King Koil: A global bedding producer, King Koil is among the country’s Top 10 manufacturers and maintains an international licensing group that serves 80 countries. The company markets multiple branded collections that also include Natural Response®, Posture Sense® and Extended Life™.
About Longroad Asset Management: Headquartered in Stamford, CT, Longroad Asset Management is a private equity firm founded in 2011 with over $500 million in committed capital. Longroad focuses on investments in niche manufacturing, industrial services, energy, distribution and consumer products. The firm’s expertise is to customize transactions to meet the goals of all parties in management buyouts, recapitalizations, corporate carve-outs and restructurings.