 |
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.
Joele Frank represents Confluent Inc. as the Mountain View, CA-based data streaming platform company agrees to be acquired by IBM in a deal with an enterprise value of $11B.
Tom Johnson, who has headed H/Advisors Abernathy since 2016, will join FGS Global as global head of private capital & financial services, effective Dec. 16.
Brunswick Group and Gagnier Communications are handling Paramount’s $30 cash per-share offer for all of Warner Bros Discovery, topping Netflix $27.50 cash/stock transaction.
ICR Inc. handles communications for Enhanced Ltd, which plans to run Olympic-type competitions with athletes using performance-enhancing drugs, as it goes public in a SPAC deal valued at $1.2B via a merger with A Paradise Acquisition Corp. of Hong Kong.
C Street Advisory Group handles strategic communications duties for American Signature Inc. as the Columbus-based home furnishings retailer declares Chapter 11.
