PRINT THIS PAGE US Thomas H Lee buys mattress maker in $1.1bn deal18/11/2003. Source: AltAssets. 
 US private equity firm Thomas H Lee Partners has acquired mattress maker Simmons from Fenway Partners in a $1.1bn secondary buy-out. Fenway bought the company in 1998 from Investcorp, another buy-out group, for approximately $513m.
‘Simmons could be a high quality public company within the next few years,’ Scott Schoen, managing director at Thomas H Lee Partners told Reuters.
The mattress market has grown at an average of six per cent a year for the last 20 years.
Simmons is the second largest mattress maker after Sealy Corporation, which is owned by another private equity firm, Bain Capital.
Thomas H Lee has participated in three other $1bn-plus transactions already this year. The firm’s other mega-deals include the $1bn secondary buy-out of Michael Foods, which was completed last month.
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