Bain Capital Acquires Foam Products Maker Innocor
Ropes & Gray advised global private investment firm Bain Capital Private Equity in its definitive agreement to acquire Innocor, Inc., a leading designer and manufacturer of advanced foam products for commercial and retail outlets, from an affiliate of Sun Capital Partners, Inc. Headquartered in Red Bank, N.J., Innocor manufactures polyurethane foam products including mattresses, pillows and mattress toppers throughout the United States under the Sleep Innovations®, Novaform® and other brands. Upon closing, the company will remain under the leadership of Carol Eicher, its president and chief executive officer, and its current management team. Bain Capital has a history of investments in industrial, consumer and retail businesses like Innocor, including Bob’s Discount Furniture and TOMS Shoes.
The transaction, which was announced Dec. 14, is expected to close in the first quarter of 2017. Financial terms were not disclosed.
The Ropes & Gray team included private equity partner William Mone, finance partner Byung Choi, tax partner Christopher Leich, private equity associate Adam Leamon and finance associate Daniel Coyne.