Calera Capital Makes Growth Capital Investment in Sleepy’s

SAN FRANCISCO & BOSTON--()--Calera Capital, a leading middle-market private equity firm, announced today that, in partnership with management, it has completed a significant investment in Sleepy’s, the leading mattress retailer in the United States, as part of a recapitalization of the Company.

Founded in 1957 by Harry Acker and based in Hicksville, New York, Sleepy’s operates over 800 retail stores, with a significant presence in the Northeast. Through highly trained sales professionals, a broad selection of high quality and mostly exclusive products, and flexible delivery options, Sleepy’s provides consumers with a highly satisfying experience in purchasing the right mattress at a great price. Leveraging its nationwide distribution capability and various branded platforms, Sleepy’s also has a non-store based direct business including 1-800 Mattress, mattress.com and Sleepys.com, and a wholesale division serving various web retailers, hotels and affinity groups.

Michael Moon of Calera Capital stated: “The Acker family and the Sleepy’s management team have built a wonderful business that’s the clear market leader in its industry. We’re delighted to have the opportunity to partner with Sleepy’s in the next chapter of its impressive growth.”

Mark Williamson of Calera Capital added: “Calera’s operating orientation and its focus on supporting and partnering with strong management teams is at the core of our investment approach. We’re very pleased that the Sleepy’s team has selected Calera to support them in continuing the Company’s record of outperformance.”

David Acker and Adam Blank, CEO and COO, respectively, said: “We’ve built a strong relationship with Calera during the past year and are impressed by Calera’s approach to building long-term sustainable value in Calera’s partner companies. We look forward to Calera’s support as we continue to build on our past successes.”

Sleepy’s represents Calera’s sixth investment from Fund IV and reinforces Calera’s strength and track record of successfully partnering with leading family and founder-owned businesses. Terms of the transaction were not disclosed.

About Sleepy’s

Sleepy’s, The Mattress Professionals® is a privately-owned 4 generation company with over 800 retail locations in thirteen states, spanning from New Hampshire to North Carolina and available nationally through www.sleepys.com. Throughout Sleepy’s 53-year history, they have supported the idea that one mattress does not fit all, carrying a wide selection of mattresses so their customers are certain to find the one that suits them best. Keeping up-to-date on all the latest innovations in sleep technology, Sleepy’s, The Mattress Professionals® carries the latest in Sealy, Serta, Simmons, Beautyrest, Posturepedic, Tempur-Pedic, My Side series mattresses and 12 other brands to fit any price range or comfort level. For more information, call 1-800-SLEEPYS (1-800-753-3797), or visit us at www.sleepys.com.

About Calera Capital

Founded in 1991, Calera Capital, formerly known as Fremont Partners, is a private investment firm which has approximately $2.8 billion of capital under management. With offices in San Francisco and Boston, Calera invests across a diverse range of industries including business services, consumer and retail, financial services, healthcare, building products, and industrial manufacturing. Calera Capital makes substantial equity investments in operating companies, typically with enterprise values up to $1 billion, and seeks to build long-term sustainable value by working with management teams to implement strategic and operating initiatives. More information can be found at www.caleracapital.com.

The securities referred to above have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States unless registered under the Securities Act or under an applicable exemption from such registration requirements. This release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Contacts

Muirfield Partners
Mickey Mandelbaum, 310-785-0810
mickey@muirfieldpartners.com

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Contacts

Muirfield Partners
Mickey Mandelbaum, 310-785-0810
mickey@muirfieldpartners.com