Simmons has announced that it is delaying the proposed initial public offering of its common stock due to uncertain market conditions.
“The company, in conjunction with its investors and advisors, will continue to evaluate market conditions and may proceed at a later date,” according to a press release issued by the Atlanta–based bedding maker.
Simmons’ parent company, THL Bedding Holding Co., announced in mid–May that it planned an IPO of its common stock and filed a registration statement with the U.S. Securities and Exchange Commission in early June, but the statement has not become effective.
When announcing the planned IPO in the spring, THL Bedding Holding Co. said it would be changing its name to Simmons Co. That change has gone into effect.
THL’s owners, Boston–based private equity firm Thomas H. Lee Partners, bought Simmons from Fenway Partners for $1.1 billion in late 2003.