Investcorp, the asset management firm specializing in alternative investments, today announced that it had signed an agreement to sell Hilding Anders, the leading mattress and beds manufacturer, for an enterprise value of approx. ¬ 1.0 billion. Hilding Anders is the European market-leading manufacturer of mattresses and beds. Founded in Sweden in 1939, it sells both branded and own-label mattresses and in some countries it also manufactures the supporting bed frames. The branded portfolio includes household names such as Bico (Switzerland), Hilding (Nordic), Slumberland (UK, Ireland) and Jensen (Norway).
The business also supplies the fast growing private label segment for sale by large retailers such as IKEA. Hilding Anders is headquartered in Malmö, Sweden and employs over 3,100 staff across 18 production sites in 26 European countries. Commenting on the transaction, Gary Long, Investcorp’s Chief Operating Officer, said: “Since we acquired Hilding Anders in December 2003, the company has developed into a truly global organisation. Added value has come from a combination of operational improvements and add on acquisitions in Asia and Europe (Croatia, France, Norway and Spain). We believe it is a model of how private equity support after acquisition, in partnership with a visionary management team, can transform a company. “Our partnership with the management team and employees of Hilding Anders has more than reached our expectations.
The company has, in less than three years, provided a highly favorable rate of return to our investors.” Anders Pålsson, CEO of Hilding Anders, added: “The business has performed well under Investcorp’s private equity ownership.” About Investcorp Investcorp is a global asset management firm specialising in alternative investments with offices in the Kingdom of Bahrain, London and New York. The firm offers four products: private equity, hedge funds, real estate investment and venture capital. It was established in 1982 and currently manages total investments in alternative assets of some $10 billion. Further information on Investcorp is available at www.investcorp.com.
