An affiliate of Boston-based Landon Capital Partners LLC has acquired a majority interest in independent, regional mattress maker Blue Bell Mattress Co. LLC, headquartered in East Windsor, Connecticut.
Landon purchased its stake from Longroad Asset Management, a private equity firm based in Stamford, Connecticut. Longroad became a majority owner of Blue Bell in 2014.
Founded in 1928, Blue Bell is a longtime holder of the Northeast license for the King Koil mattress brand—the company’s largest domestic licensee. Blue Bell also is the exclusive U.S. licensee of the Natura line of organic and natural mattresses, and it produces a variety of other nonbranded innerspring, latex, hybrid and specialty foam mattresses for sleep shops and furniture retailers throughout the Northeast.
“We were attracted to Blue Bell based on its reputation as an exceptional supplier and its ability to provide a full suite of branded and private-label products customized to meet individual retailers’ needs,” said Chris Sullivan, managing partner of Landon. “We look forward to working closely with Chief Executive Officer Mark Kolovson and the company’s management team to grow the Blue Bell platform both organically and through strategic acquisitions.”
Kolovson and Steve Byer, chief operating officer, will continue to hold a minority interest in Blue Bell. The two executives are part of the extended family of Frank Stavis, a mattress industry veteran who, for close to a half century, ran the company founded by his family. Stavis died in 2004.
“We are excited to have Landon as our new partner as we embark on our next stage of growth,” Kolovson said. “By combining the company’s strong platform and Landon’s expertise and capital, we look forward to expanding our markets and brands.”
Landon Capital Partners is the direct private equity investment group of the Landon Trust. The terms of the transaction were not disclosed.