WEST LONG BRANCH, N.J. — Sleep Innovations, designer and manufacturer of memory foam products, has been acquired by an affiliate of Sun Capital Partners. The private investment firm specializes in leveraged buyouts and investments in market-leading companies.
“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-CEO 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 pillows, mattress toppers and mattresses. The company’s in-house design team also incorporates new styles, colors and textures during the product design process that result in relevant custom solutions to satisfy consumer demand.
Sawaya Segalas &Co., LLC, acted as exclusive financial advisor to Sleep Innovations in the private transaction, whose terms were not disclosed.