Transactions

  • October 30, 2017 - Roberta Roller Rabbit has been sold to an investor group

    Avalon Net Worth has identified an investor group for the acquistion of Roberta Roller Rabbit... 

    Read More
  • March 31, 2017 - Atlantic Street Capital portfolio's company, Alex Apparel Group, Inc., have acquired Sally Lou Fashions

    Avalon Net Worth has identified a strategic target company for Atlantic Street Capital and its portfolio company, Alex Apparel Group, to aquire... 

    Read More
  • March 02, 2017 - ANW has advised on the sale of Jaclyn, Inc. (OTCMKTS:JCLY), to an affiliate of Golden Touch Imports, Inc.

    Jaclyn, Inc. (OTCMKTS:JCLY), a $175 million (revenues) multi-line fashion and accessory firm, has been sold to an affiliate of Golden Touch Imports, Inc. ... 

    Read More
  • February 27, 2017 - Molli Partners LLC has sold its four shoe brands to Teshoeque LLC

    Molli Partners LLC has completed a sale of it's major brands to Teshoeque LLC... 

    Read More
  • 1
  • 2
  • 3
  • 4
  • 5

Noteworthy

  • October 17, 2017 - Global Private Wealth Dallas Forum on Macroeconomics

    At the 2017 GPW Dallas Forum our Co-CEO, Lynda Davey, spoke alongside other prominent industry executives regarding the current

    Read More
  • July 25, 2017 - Retail Summer School at Columbia Business School

    Richard Jaffe, a Managing Director at Avalon, will host the 9th Annual Retail Summer School along with Shoptalk at

    Read More
  • May 10, 2017 - Retail’s Private Equity Legacy: Big Debt, Big Problems

    In an article published by WWD magazine our Co-CEO, Jack Hendler, shares his insight on Private Equity in the

    Read More
  • April 04, 2017 - Why Millennials and Mid-Market Firms Are a Fashion Match

    Apparel magazine published an article where our Co-CEO, Jack Hendler, discusses Milennials and Retail...    Read More...

    Read More
  • 1
  • 2
  • 3
  • 4
  • 5

Grabbing a Pillow: Buyout Firms Agree to Acquire Tempur World

(The Wall Street Journal) - Two private-equity firms agreed to acquire Tempur World Inc., a maker of foam pillows and mattresses, from Fagerdala World Foams AB of Sweden for $350 million.

Under terms of the deal, which is expected to be announced today, TA Associates Inc., Boston, will invest $95 million in cash and $35 million in subordinated debt to fund the transaction. An additional $50 million cash investment will come from Friedman, Fleischer & Lowe, San Francisco, with the rest of the acquisition being financed with bank debt.

Robert B. Trussell Jr. will remain Chief Executive Officer of Tempur and will have an equity stake in the business. The deal is expected to close by early November.

Tempur, Lexington, KY., sells its pillows and mattresses under the brand names Tempur and Tempur-Pedic at retail chains and through direct marketing. Tempur has a sales agreement with specialty retailer Brookstone Inc. of Nashua, N.H., that 9% of its $250 million of sales last year. Just more than half of the company's revenue came from U.S. sales.

The buyout comes as Fagerdala's majority shareholders are looking to cash out of Tempur. Fagerdala's primary business is making polyethylene foams used for insulation and shock absorption in the automotive and athletic industries.

The pillow and mattress unit makes products from viscoelastic foam, a material developed by the National Aeronautics and Space Administration in 1971 for use in spacecraft seats to cushion astronauts during liftoff. Fagerdala improved the foam, which is temperature sensitive, allowing it to conform to better support the body. The company's viscoelatic-foam mattress, introduced in 1991, sells for about $1,000. Tempur's pillows are priced at about $100 each.