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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.
Edelman handles Viking Holdings, the river and ocean luxury cruise line that plans to raise $1B via an IPO priced in the $21 to $25 per share range.
Teneo is handling the initial public offering of CVC Capital Partners, one of Europe’s largest private equity firms with nearly $200B in assets under management.
Brunswick Group represents Endeavor Group Holdings as it agrees to go private via its acquisition by Silver Lake technology investment firm, which is handled by Edelman Smithfield.
Tod Donhauser, a nine-year veteran of Edelman, has joined H/Advisors Abernathy as managing director and head of its San Francisco office.
Intelligent Group Ltd, a Hong Kong-based financial PR firm, has priced its initial public offering of 1.9M shares at $4, which is the low end of the $4 to $5 range.
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