Spring Air Mergers With 7 Licensees

June 27, 2007  by in UnCategorized   

By Home Furnishings Business in Bedding on June 2007 The Spring Air Co. has merged with Consolidated Bedding Inc. of Tampa, Fla., the company’s largest licensee, and it simultaneously acquired six other Spring Air licensees operating eight mattress manufacturing facilities in the United States.

The unified company will employ 1,150 employees in 14 locations, including its headquarters, which will remain in the Chicago area. In a statement, the company said the merger solidifies “Spring Air’s position as the leading value ‘S’ brand on every retail floor.”

Robert Hellyer, 48, has been named chief executive officer and begins work Monday. Hellyer represents the fourth generation of his family in the mattress business and was most recently president of Simmons Mattress Co. Prior to Simmons, he led national sales for Stearns & Foster, a Sealy division.

Jim Nation, the current president of The Spring Air Co., will hold the same title in the new Spring Air. Steve Antinori, currently chairman and chief executive officer of Consolidated, will become chairman of the Spring Air board.

“This is an exciting day for all of Spring Air’s customers, employees and suppliers,” Hellyer said. “As one company, led by an experienced management team with a common vision, Spring Air can deliver better quality, service and exceptional value to all its customers. The objective of the new Spring Air is to harness the research and development, sales and marketing prowess, and operational excellence to solidify its position as the industry’s leading value brand on every retail floor. Spring Air is now one company, with one vision and one commitment to success.”

The manufacturing facilities included in the acquisition are in Atlanta; Birmingham, Ala.; Chelsea, Mass.; Denver; Phoenix; St. Louis; Salt Lake City; and Lacey, Wash. They will join Consolidated Bedding’s existing facilities in Columbus, Ohio; Carrollton, Texas; City of Industry, Calif; New Brunswick, N.J.; and Tampa, Fla.

HIG Capital LLC, a leading global private equity investment firm with more than $4 billion of equity capital under management, provided the funding for the transaction. HIG began a relationship with Spring Air in 2005 when it funded the merger of American Bedding Inds. and Spring Air Partners, the two largest Spring Air licensees.