Sun Capital Partners, Inc. 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., 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.
â"œWe are pleased to continue supporting the growth of Sleep Innovations as a leader in the bedding and furniture market,â" said Marc Leder, Co-Chief Executive Officer at Sun Capital. â"œFlexible Foamâ"™s long history of producing top-quality polyurethane foam will complement Sleep Innovationsâ"™ strength in both the retail and OEM markets.â"
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 Companyâ"™s retail division. Sleep Innovationsâ"™ retail brands include Novaform, Bodipedic and Sleep Innovations, and it also sells products under licensed and private retail brands.