Private equity-backed Sleep Innovations is buying Flexible Foam Products Inc.
Spencerville, Ohio-based Flexible Foam provides polyurethane foam to flooring, bedding, furniture, packaging, retail and automotive industries. Terms of the acquisition were not disclosed.
Sleep Innovations is backed by private equity firm Sun Capital Partners Inc. The buyer designs, manufactures and markets memory and conventional foam for bedding, furniture, medical, bath and pet products. Sleep Innovations expects the deal to allow it to expand its presence as foam-based products become more popular with bedding makers and consumers.
Sun Capital, headquartered in Boca Raton, Fla., has invested in more than 335 companies since it was started in 1995. In October, the firm sold Captain D's Seafood Restaurants. In September, the firm bought the Gem Shopping Network. In June, Sun Capital bought burger chain Johnny Rockets.