Ropes & Gray Advises Advent International in the Acquisition of Serta China and Partnership with King Koil China
Ropes & Gray represented Advent International in its carve-out acquisition of the mattress manufacturing business of Serta, Inc. in China, Hong Kong and Macau (Serta China), from Hong Kong-based conglomerate Airland Holding Company, and the subsequent partnership between Serta China and King Koil China. Financial terms were not disclosed.
Serta Simmons Bedding is the largest distributor and manufacturer of mattresses in the U.S. King Koil China is a principal player in the premium mattress market in China.
The Ropes & Gray team was led by private equity partner Daniel Yeh, private equity counsel Steve Sha and IP transactions partner Ed Black.