Sleep Innovations to be Acquired by Sun Capital Partners
WEST LONG BRANCH, N.J.-Sleep Innovations has reached an agreement to be purchased by Sun Capital Partners.
Terms were not disclosed, nor was a date given for the closing of the deal in a joint statement issued this morning by Sleep Innovations and Sun Capital. Michael Thompson, Sleep Innovations' president and CEO, said, "Given its wide range of portfolio companies, financial strength and operating expertise, Sun Capital offers Sleep Innovations the breadth of financial and operating capabilities to support the future growth of the company."
Marc Leder, co-CEO of Sun Capital, said the pending acquisition will mark a return by the investment firm to the bedding industry. The company acquired specialty retailer Mattress Firm in 2002, and then sold it to a group consisting of equity firm J.W. Childs and senior Mattress Firm management in 2007. "Sleep Innovations will benefit from our extensive experience in the bedding and retailing industries as the company looks to continue on a growth path," Leder said.