An affiliate of Sun Capital Partners, a private investment firm specializing in leveraged buyouts, has signed an agreement to purchase foam bedding and accessories supplier Sleep Innovations in West Long Branch, N.J. Terms of the transaction were not disclosed.
Sleep Innovations’ retail brands include Novaform, Bodipedic and Sleep Innovations and are sold at mass merchants and other retail chains. The company also sells sleep products under licensed and private-label retail brands.
In the past, Sun Capital has held ownership stakes in the now-defunct International Bedding Corp. and Mattress Firm.
“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, Sun Capital co-chief executive officer. “Sleep Innovations will benefit from our extensive experience in the bedding and retail industries as the company looks to continue on a growth path.”
The investment firm has offices in Boca Raton, Los Angeles and New York, as well as affiliates around the globe.