Arsenal Capital Partners, the New York private equity firm focused on middle-market specialty industrial and healthcare companies, closed the acquisition of certain foam production assets from Hickory Springs Manufacturing Co. Terms weren’t disclosed. HSM will become a subsidiary of Elite Comfort Solutions, a specialty foam platform Arsenal created in 2016. HSM, Conover, North Carolina, produces flexible polyurethane foam for application in furniture, bedding, medical uses and packaging.
Arsenal Capital Completes Acquisition of HSM Foam Assets
Arsenal Capital Partners, a leading New York-based private equity firm that invests in middle-market specialty industrial and healthcare companies, announced today it has completed the acquisition of certain foam production assets from Hickory Springs Manufacturing Company. HSM Foam will become a subsidiary of Elite Comfort Solutions, a leading specialty foam platform created by Arsenal in 2016. Elite Comfort Solutions serves the bedding and home furnishings industries and has a national network of 11 production facilities.
Headquartered in Conover, North Carolina, HSM Foam is one of the largest producers of flexible polyurethane foam in North America. HSM Foam provides hundreds of foam formulations for furniture, bedding, medical and packaging market applications. Its range of products includes Code*RedII® combustion inhibitive foam, EnduroFoam® premium performance foam and Preserve®, the first bio-based polyurethane foam. HSM Foam’s operations are located in North Carolina (Conover), Arkansas (Fort Smith), Mississippi (Verona), California (Commerce) and Georgia (Americus). HSM’s foam fabrication operations will continue to be supported by Elite Comfort Solutions.