International Bedding Corporation Names CEO

July 17, 2007  by in UnCategorized   

By Home Furnishings Business in Bedding on July 2007 International Bedding Corporation, which was acquired by an affiliate of Sun Capital Partners in May, announced Tuesday that Sealy executive Tony R. Smith has been named president and CEO, effective immediately. He replaces company founder Leon Ellman, who is pursuing other interests, according to a press release.

Based in Fort Lauderdale, Fla., IBC is the nation’s eighth-largest manufacturer and marketer of private label and limited-distribution brand mattresses and foundations. Smith worked for Sealy for 22 years, most recently as chief operating officer of Sealy Canada, the mattress maker’s largest international division.

“Tony has extensive general management experience in mattress sales and distribution, and has demonstrated strong leadership in his past roles,” said Thomas Taylor, managing director, Sun Capital Partners, Boca Raton, Fla. “He brings the right blend of experience to IBC to refocus the company on its core competencies and strategic objectives in preparation for IBC’s future growth.”

Sun Capital affiliates have invested in and managed more than 160 companies with combined sales of $35 billion since 1995. Its portfolio in the furniture industry includes Lexington Home Brands, Powell and Rowe.