Bain Capital Private Equity has closed its previously announced buyout of Red Bank, New Jersey-based Innocor Inc, a maker of advanced foam products. The seller was Sun Capital Partners. No financial terms were disclosed.
RED BANK, NJ and BOSTON – February 3, 2017 – Innocor, Inc., a leading designer and manufacturer of advanced foam products for commercial and retail channels, today announced the completion of its acquisition by Bain Capital Private Equity, a leading global private investment firm. Carol Eicher, Chief Executive Officer, will continue to lead the company together with the current management team.
Financial terms of the purchase, which was announced last December, were not disclosed.
Founded in 1996 and headquartered in Red Bank, New Jersey, Innocor is the leader in consumer-driven polyurethane foam products proven to deliver comfort, relaxation and rejuvenation. Innocor Comfort®, the consumer products division, manufactures advanced memory foam products including mattresses, pillows, and mattress toppers under Sleep Innovations®, Novaform® and other brands. The Innocor Foam Technologies® division manufactures innovative foam products for commercial customers. The company has 22 manufacturing plants and distribution centers throughout the U.S.
“With the support and resources of Bain Capital Private Equity, we will be even better positioned to partner with our customers to meet growing consumer demand for the comfort and value of foam,” said Eicher. “We have innovative technologies, a broad range of products, and industry-leading service and delivery capabilities that will enable us to grow in existing and new markets.”
“Carol and her team are strong operators with a demonstrated track record of success,” said Stephen Thomas, a Managing Director at Bain Capital Private Equity. “We believe Innocor’s operational excellence, innovative products, and high quality service for industry-leading customers will allow the company to build on its market leadership in bedding. We are excited to partner with management as we pursue new opportunities to accelerate growth.”
About Innocor, Inc.
Founded in 1996 and headquartered in Red Bank, New Jersey, Innocor, Inc. is the leader in consumerdriven polyurethane foam products proven to deliver comfort, relaxation and rejuvenation. Innocor Comfort®, the consumer products division, manufactures advanced memory foam products including pillows, mattress toppers, mattresses, etc. under Sleep Innovations®, Novaform® and other brands.
Innocor also manufactures innovative foam products for commercial customers under its Innocor Foam Technologies® division. Innocor has 22 manufacturing plants and distribution centers throughout the U.S. (www.innocorinc.com).
About Bain Capital Private Equity
Bain Capital Private Equity (www.baincapitalprivateequity.com) has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since our founding in 1984. Our team of more than 220 investment professionals creates value for our portfolio companies through our global platform and depth of expertise in key vertical industries including industrials, consumer/retail, financial and business services, healthcare, and technology, media and telecommunications. In addition to private equity, Bain Capital invests across asset classes including credit, public equity and venture capital, and leverages the firm’s shared platform to capture opportunities in strategic areas of focus.