Sleep Innovations, a portfolio company of Sun Capital Partners, said Tuesday that it has acquired Flexible Foam Products. No financial terms were disclosed. Based in Spencerville, Ohio, Flexible Foam is a maker of polyurethane foam products.
BOCA RATON, FL – March 4, 2014 – Sun Capital Partners, Inc. (“Sun Capital”) today announced that its affiliated portfolio company Sleep Innovations, a leading designer, manufacturer and marketer of memory and conventional foam for bedding, furniture, medical, bath, and pet products, has entered into a definitive agreement to acquire substantially all the assets of Flexible Foam Products, Inc. (“Flexible Foam”), a national manufacturer and supplier of polyurethane foam products. Terms of the private transaction were not disclosed.
Headquartered in Spencerville, Ohio, Flexible Foam has been serving customers in the flooring, bedding, furniture, packaging, retail, and automotive industries for more than 40 years. The company has gained a reputation for providing the highest quality polyurethane foam to an extensive OEM bedding and furniture end market customer base throughout North America.
As foam-based products continue to grow in popularity with bedding makers and consumers alike, this transaction will enable Sleep Innovations to further expand its presence in the OEM market and better serve its customers though a truly national footprint.
“We are pleased to continue supporting the growth of Sleep Innovations as a leader in the bedding and furniture market,” said Marc Leder, Co-Chief Executive Officer at Sun Capital. “Flexible Foam’s long history of producing top-quality polyurethane foam will complement Sleep Innovations’ strength in both the retail and OEM markets.”
Sleep Innovations, headquartered in West Long Branch, New Jersey, manufactures standard and specialty polyurethane foam sold to end markets for use in bedding, furniture, auto, packaging and consumer products, and to be sold through the Company’s retail division. Sleep Innovations’ retail brands include Novaform, Bodipedic and Sleep Innovations, and it also sells products under licensed and private retail brands.
About Sun Capital Partners, Inc.
Sun Capital Partners, Inc. is a pioneer in private equity investing, uniquely combining the financial skills and resources of a traditional private equity firm with the insight and expertise of a world class operating team. The firm focuses on market-leading companies that can benefit from our in-house professionals, resources, and expertise in their efforts to materially improve operating performance. Sun Capital affiliates have invested in more than 335 companies worldwide with combined sales in excess of $45 billion since our inception in 1995. Sun Capital has offices in Boca Raton, Los Angeles and New York, and affiliates in London, Frankfurt, Paris, Luxembourg, Shanghai and Shenzhen. For more information, visit www.SunCapPart.com
About Sleep Innovations
Sleep Innovations is the leader in consumer-driven foam products, proven to deliver comfort, relaxation and rejuvenation. The company designs and manufactures advanced, memory foam products, including pillows, mattress toppers and mattresses. Through extensive clinical testing, Sleep Innovations® has found that its foam solutions help to improve the quality of its consumers’ lives through better sleep. For more information, visit www.sleepinnovations.com.
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