Advent Agrees to Purchase Stake in AOT Bedding Super Holdings

New York, August 6 (alphajetsusa.com) –  On August 5, Advent International, the private equity firm, informed about purchasing a majority stake in AOT Bedding Super Holdings which is the parent firm of National Bedding and Simmons Bedding- the manufacturer of Serta mattress.

According to sources, at about $3 billion, inclusive of debt, the deal valued AOT, although there were no official disclosure of deal’s terms and conditions. Furthermore, solid eagerness for secondary buyouts, or sales from one private equity firm to another gets demonstrated by this deal that is supposed to be finished by the fourth quarter.

Ares Management LLC and the Ontario Teachers’ Pension Plan that are expected to retain a minority equity stake after the transaction are present investors in AOT Bedding Super Holdings. For an unrevealed amount, National Bedding was purchased by Ares and Ontario Teachers in 2005 and in 2010 it bought Simmons Bedding also from buyout house of the US Thomas H Lee Partners worth $760 million.

The two manufacturers were brought together under a lately created holding firm called AOT Bedding Super Holdings as soon the deal was finished. Moreover, Advent International has dominated over other private equity bidders namely Bain Capital and Berkshire Partners in the most recent transaction. The deal hasn’t been revealed publicly as none of the firms were available to comment on the price of deal.

Deutsche Bank Securities and Morgan Stanley (NYSE: MS) imparted their roles as co-advisers to AOT Bedding Super Holdings, while Barclays (BARC.L) executed its role as lead financial adviser.

Isabella Morphy
Isabella Morphy is a writer, blogger, and futurist, always looking for the next technology frontier. She has written for a host of newspapers, magazines, and websites. Isabella has a ‘Bachelor of Science degree in Finance’ from the Arizona University and has more than 6 years of experience in writing. Email: isabella.morphy@alphajetsusa.com Tel: (732) 452 3610

Latest News By The Reporter

BlackBerry Rocks Once Again with Latest BlackBerry Z10 - March 12, 2019

New York, March 13 (alphajetsusa.com) – BlackBerry Z10 is one of the recent releases by BlackBerry manufacturers designed in the measurements of 130 x 65.6 x 9 mm (5.12 x 2.58 x 0.35 in). The device...

Dollar Strikes High in Opposition to Yen - March 12, 2019

New York, March 12 (alphajetsusa.com) – Seeing as assumption rose that the Bank of Japan would take early easing action, and at the same time as the outlook for a US economic recovery carries on advancing,...

Deutsche Bank Securities Upgrades TransDigm Group Incorporated (NYSE: TDG) from HOLD to BUY, Target Price Raised - March 12, 2019

New York, March 12 (alphajetsusa.com) – Analyst Myles Walton at Deutsche Bank Securities upgrades rating on the shares of TransDigm Group Incorporated (NYSE: TDG) from HOLD to BUY. The...

Stock Index Futures Indicate Lower Start on Wall Street - March 11, 2019

New York, March 11 (alphajetsusa.com) – With futures for the S&P 500 being down by 0.2 percent, Dow Jones futures down by 0.1 percent and NASDAQ 100 futures down by 0.2 percent at 0846 GMT, stock...

Deutsche Bank Securities Reiterates BUY Rating on Ambarella (NASDAQ: AMBA), Target Price Raised - March 11, 2019

New York, March 11 (alphajetsusa.com) – Analysts at Deutsche Bank Securities reiterate their BUY rating on the shares of Ambarella, Inc (NASDAQ: AMBA). The 12-month target price has been raised to some...

Jobless Claims Drop All of a Sudden - March 8, 2019

New York, March 8 (alphajetsusa.com) – Recommending a pickup in the labor market and the speed of economic expansion, the number of Americans filing fresh claims for joblessness benefits skidded all of...

Deutsche Bank Securities Reiterates HOLD Rating on Coventry Health Care (NYSE: CVH), Target Price Raised - March 7, 2019

New York, March 8 (alphajetsusa.com) – Analysts at Deutsche Bank Securities reiterate their HOLD rating on the shares of Coventry Health Care Inc (NYSE: CVH). The 12-month target price has been...

Deutsche Bank Securities Reiterates HOLD Rating on THL Credit (NASDAQ: TCRD), Target Price Raised - March 6, 2019

New York, March 6 (alphajetsusa.com) – Analysts at Deutsche Bank Securities reiterate their HOLD rating on the shares of THL Credit, Inc (NASDAQ: TCRD). The 12-month target price has been raised to some...

Deutsche Bank Securities Reiterates HOLD Rating on Boyd Gaming Corp (NYSE: BYD), Target Price Raised - March 5, 2019

New York, March 6 (alphajetsusa.com) – Analysts at Deutsche Bank Securities reiterate their HOLD rating on the shares of Boyd Gaming Corp (NYSE: BYD). The 12-month target price has been raised to some...

US Stock Futures Trade Close to Flat Line - March 5, 2019

New York, March 5 (alphajetsusa.com) – On March 5, the Wall Street stock futures were trading close to the flat line.

In addition, 0.04 percent was dropped by the Dow Jones industrial...

Comments are closed.