Once the transaction is complete, the business will operate under the structure of a holding company in collaboration with its respective founders and other existing shareholders. These existing shareholders will now retain significant minority interests in the merged business. The merged company will be the leading direct-to-consumer mattress platform, providing customers with a broad portfolio of high-quality products and superior end-to-end experiences, Cerberus said in a press release.
Brooklyn Bedding uses state-of-the-art equipment and patented materials to create professionally crafted bedding and distributes the products through its omni-channel platform. Helix Sleep designs and delivers custom-made mattresses through a marketing strategy focused on customized digital experiences and analytics. The merged company will provide its customers with key Brooklyn Beding and Helix products through a vertically integrated scalable platform supported by best-in-class manufacturing and digital capabilities.
Cerberus Capital Management, Brooklyn Beding and Helix Sleep have signed a final agreement that Cerberus affiliates will acquire Brooklyn Beding and Helix in a series of related transactions. Brooklyn Bedding is an American mattress maker and Helix is a direct sales brand platform for sleep and household products brands.
Brooklyn Bedding and Helix will continue to operate under their respective brand names, and the merged company will be led by Brooklyn Bedding’s current CEO, John Merwin. According to Cerberus, Helix co-founders Adam Tishman, Kristian von Rickenbach, and Jerry Lin will lead the direct sales segment of the integrated business.
The transaction is expected to close at the beginning of the fourth quarter of 2021, provided that all regulations and other customary closing conditions are met. Credit Suisse was the exclusive financial adviser and Simpson Thatcher & Bartlett was the legal adviser to Cerberus. FocalPoint Partners served as financial adviser and Sheppard Mullin served as legal adviser to Brooklyn Beding. Moelis & Company was the exclusive financial adviser, and Bass and Berry & Sims were the legal advisers to Helix.
“We have long admired Helix and are excited to team with them. Helix’s innovative business model has brought about tremendous growth and its high quality products are reliable to our customers. Being a brand. Backed by Cerberus’ operational and technical expertise, our integrated platform can seize significant growth opportunities and provide our customers with a better mattress purchasing experience. increase.” Brooklyn Bedding CEO John Merwin Said in a press release.
“Our vision has always been to sell great home and sleep products to our customers so that they can enjoy the moments that are important to their loved ones. Brooklyn Bedding is a similar customer first. We share our mission and know directly that we are one of the best mattress manufacturers in the country. The integration of the two organizations and the partnership with Cerberus bring innovative new products and first-class services to our customers. You can be the category leader you offer. ” Helix co-founders Adam Tishman, Kristian von Rickenbach, Jerry Lin Said.
“This is an exciting opportunity to combine two great businesses with highly complementary features. Brooklyn Bedding and Helix combine their strengths to meet the growing demand in the DTC mattress market, together. The company offers professionally crafted products made in the United States and a world-class customer experience. This leadership team will build a common mission and help more customers on their mattress shopping journey. I’m looking forward to that. ” Scott Wille, Senior Managing Director of Cerberus Said.
Fiber2Fashion News Desk (GK)
Cerberus Acquires Brooklyn Beddding & Helix Sleep in the U.S.
Source link Cerberus Acquires Brooklyn Beddding & Helix Sleep in the U.S.