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Joele Frank is working the Chapter 11 filing of Serta Simmons Bedding, which has a 20 percent stake of the US mattress market.
The Doraville, GA-based company says the restructuring will enable it to pare its long-term debt from $1.9B to $300M and make critical investments to grow its Serta, Simmons, Beautyrest and Tuft & Needle brands.
CEO Shelly Huff said Serta Simmons is focused on launching new innovations, building a high-performing and resilient supply chain and expanding its commercial business.
Advent International, private equity firm, acquired Serta Simmons for $3B in 2012.
The mattress maker generated $2.4B in sales for the one-year period ended June 30, 2022.
Joele Frank, Wilkinson Brimmer Katcher’s Ed Trissel, Aaron Palash and Viveca Tress handle Serta Simmons.
QVC Group is using Joele Frank for strategic communications as the TV home shopping pioneer declares Chapter 11.
Publicis Groupe reported 4.5 percent Q1 organic growth in net revenues to $4.1B despite the volatile macro environment.
PondelWilkinson, the Los Angeles-based IR and strategic communications shop, has expanded to the East Coast by adding Anreder & Company veterans following the retirement of principal Steven Anreder.
Teneo represents American Ocean Minerals Corp as its merges with NASDAQ-listed Odyssey Marine Exploration to create a $1B deep-sea critical minerals research and mining platform that is under US-control.
Kekst CNC represents Cleveland-based Everstream as the business-only fiber network receives bankruptcy court approval for the sale of almost all of its operations to Bluebird Fiber for $385M.
