Private equity firm Sentinel Capital Partners has acquired Hollander Sleep Products, a manufacturer of bedding products, for an undisclosed price.
Hollander makes sleep accessories, including pillows, mattress pads and comforters. The Boca Raton, Florida-based company licenses products under well-known brands, including Ralph Lauren Corp. (NYSE: RL), Simmons Bedding Co., Nautica Apparel Inc. and Live Comfortably. Hollander operates nine facilities across North America and employs 1,650 people worldwide.
Sentinel focuses on specialty manufacturing and consumer businesses. Current investments include: craft yarn company Spinrite Inc.; door manufacturer Chase Doors; and Trussbilt LLC, a manufacturer of steel security products for detention facilities. The New York firm recently agreed to buy TGI Fridays in conjunction with TriArtisan Capital Partners. Before that, Sentinel closed a deal for Newk's Holding Co. LLC, which operates restaurant franchise Newk's Eatery.
The sale marks an exit for private equity firm HGGC, which acquired Hollander in August 2009. The deal is the firm's first exit in the consumer sector, and the sixth exit of 11 investments from HGGC's debut fund, which closed in 2009 with $1.1 billion in capital. The Palo Alto, California-based firm was founded by Huntsman Corp. founder Jon Huntsman and Bain Capital veteran Robert Gay and was previously known as Huntsman Gay Global Capital.