ELK GROVE VILLAGE, Ill.–HIG Capital and American Capital Strategies, the two investment firms that led the way for Spring Air to consolidate with its licensees last year, have granted the company an additional $22 million to help finance the launch of its new product line.
“This new capital will enable us to propel Spring Air forward,” said Bob Hellyer, who became the mattress manufacturer’s chief executive officer shortly after the consolidation. At the Las Vegas Market earlier this week, Spring Air introduced a product line featuring the Power Coil, a 9-inch innerspring comprised of three coil zones and heavier-gauge wire, and a new branding approach that reduced the company’s brands from 13 to four: Back Supporter, Four Seasons, Nature’s Rest and Chattam & Wells.