Sun Capital Partners Inc has made an investment in Mancini’s Sleepworld, a mattress retailer serving the Northern California market. No financial terms were disclosed.
BOCA RATON, FL— September 17, 2020 – Sun Capital Partners, Inc. (“Sun Capital”), a leading private investment firm focused on investing in market-leading companies, today announced that its affiliate has made an investment in Mancini’s Sleepworld (“Mancini’s” or “the Company”), a mattress retailer serving the Northern California market. Terms of the private transaction were not disclosed.
Founded by the Mancini family in 1969, Mancini’s Sleepworld sells leading brand mattresses and other sleep products such as adjustable bed frames. Randy Mancini, a second-generation owner, has built the successful business to [approximately][Seems odd to appear not to know the precise number of locations] 33 locations throughout the Bay area.
“Mancini’s is in Sun Capital’s sweet spot: a family-owned business in an industry that Sun Capital knows well and where we have had a track record of success,” said Marc Leder, Co-CEO of Sun Capital. “The Company’s success is a testament to Randy Mancini and Marc Fey’s hard work and business acumen, and we appreciate their trust in Sun Capital’s ability to partner with them in growing the business.”
The U.S. bedding industry has grown by approximately 4% annually over the past 20 years and Mancini’s has consistently outperformed this benchmark.
“I have been impressed by Sun Capital’s ability to support the business and its management team and help us navigate the current environment in the locations we are open for business,” said Randy Mancini. “Sun Capital’s focus on supporting sales growth and leveraging its experience in mattress retailing will be invaluable to the company going forward.”
Sun Capital has extensive experience in the mattress industry through its current investment in Dreams, the U.K.’s leading bed and mattress specialist and previous investments in U.S. mattress retailer Mattress Firm and foam mattress manufacturer, Innocor.
“Sun Capital looks forward to partnering with Marc Fey, who has been promoted to CEO of the company, Randy Mancini, Chairman, and the rest of the management team, including the impressive sales professionals who do such an excellent job serving Mancini’s customers,” said Matthew Garff, Managing Director at Sun Capital. “We see significant opportunity to benefit from Mancini’s strong reputation to grow sales in-store and via e-commerce as well as to expand Mancini’s geographic footprint.”
About Sun Capital Partners, Inc.
In 2020, Sun Capital Partners, Inc. celebrates 25 years of investing; identifying companies’ untapped potential; and accelerating value through operational excellence. Since 1995, Sun Capital has invested in more than 375 companies worldwide with revenues in excess of $50 billion across a broad range of industries and transaction structures. Over the quarter century, the Firm has built a reputation as a trusted partner recognized for its investment and operational experience, including particular expertise in Business and Consumer Services, Healthcare, Industrial and Consumer sectors. Sun Capital has offices in Boca Raton, Los Angeles and New York, and an affiliate with offices in London.