Spring Air Merges With Consolidated Bedding
Furniture World Magazine
The Spring Air Company has merged with Consolidated Bedding, Inc. of Tampa, FL, Spring Air's largest licensee and 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 facility that will remain in the Chicago area. The merger will solidify Spring Air's position as the leading value "S" brand on every retail floor.
The chief executive officer of Spring Air will be Robert W. Hellyer, 48 of Roswell, GA, who will begin work July 2nd. Hellyer, who represents the fourth-generation of his family in the mattress business, was most recently president of Simmons Mattress Co. Prior to Simmons, he was the head of national sales for Stearns and Foster, a division of Sealy, Inc.
Jim Nation, the current president of The Spring Air Company, 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. 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,” said Hellyer. “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 acquired manufacturing facilities are in: Atlanta, GA; Birmingham, AL; Chelsea, MA (Boston); Denver, CO; Phoenix, AZ; St. Louis, MO; Salt Lake City, UT; and Lacey, WA (Seattle). They will join Consolidated Bedding’s existing facilities in: Columbus, OH; Carrollton, TX (Dallas); City of Industry, CA (Los Angeles); New Brunswick, NJ; and Tampa, FL.
H.I.G. Capital LLC, a leading global private equity investment firm with more than $4 billion of equity capital under management, provided the equity funding for the transaction. H.I.G. began a relationship with Spring Air in 2005 when it funded the merger of American Bedding Industries and Spring Air Partners, the two largest Spring Air licensees.