West Long Branch, N.J.-based specialty sleep supplier Sleep Innovations has entered into an agreement to buy foamer Flexible Foam Products Inc., with headquarters in Spencerville, Ohio. Sleep Innovations is owned by Sun Capital Partners Inc., a private equity firm that specializes in leveraged buyouts. Terms of the private transaction were not disclosed.
“We are pleased to continue supporting the growth of Sleep Innovations as a leader in the bedding and furniture market,” said Marc Leder, Sun Capital co-chief executive officer. “Flexible Foam’s long history of producing top-quality polyurethane foam will complement Sleep Innovations’ strength in both the retail and OEM markets.”
Sun Capital has offices in Boca Raton, Los Angeles and New York, as well as affiliates around the globe. The firm purchased Sleep Innovations in 2012 and has held ownership stakes in other mattress industry players, including International Bedding Corp. and Mattress Firm.
