Investment Summary

TA Associates, FFL Partners and Arrowhead Investment Management Invest In Tempur Sealy International

On October 11, 2002, private equity firm TA Associates, private equity firm FFL Partners and mezzanine finance firm Arrowhead Investment Management invested in consumer products company Tempur Sealy International for 350M USD

Investment Highlights
  • This is TA Associates’ 3rd, FFL Partners’ 1st and Arrowhead Investment Management’s 2nd transaction in the Consumer Products sector.
  • This is TA Associates’ 8th, FFL Partners’ 2nd and Arrowhead Investment Management’s largest (disclosed) transaction.
  • This is TA Associates’ 97th, FFL Partners’ 4th and Arrowhead Investment Management’s 9th transaction in the United States.
  • This is TA Associates’ 1st, FFL Partners’ 1st and Arrowhead Investment Management’s 1st transaction in Kentucky.
Investment Fate
  • Tempur Sealy International went public in 2003.

Investment Summary

Date 2002-10-11
Target Tempur Sealy International
Sector Consumer Products
Investor(s) TA Associates
FFL Partners
Arrowhead Investment Management
Deal Type Stake Purchase
Deal Value 350M USD

Target

Tempur Sealy International

Lexington, Kentucky, United States
website
Tempur Sealy International is a bedding provider. Tempur Sealy International develops, manufactures and markets mattresses, foundations, pillows and other products. Tempur Sealy International was founded in 1989 and is based in Lexington, Kentucky.

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Investor(S) 3

Investor

TA Associates

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1968
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TA Associates is a private equity firm that targets investments in middle-market and large companies around the world. TA will consider control or minority investments in profitable companies and looks to commit between $70 and $500 million per transaction. TA proactively reaches out to companies directly in sourcing potential investment opportunities. Prospective businesses are generally valued between $100 million and $3 billion. Areas of interest include technology, software, communications, financial services, healthcare, business services, semiconductors/electronics, and consumer products/services. In addition to investing equity capital, TA also makes subordinated debt investments. TA's geographic preference is North America, Asia/Pacific, and Europe. TA Associates was formed in 1968 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 103 of 360
Sector (Consumer Products) 3 of 9
Type (Stake Purchase) 5 of 39
State (Kentucky) 1 of 1
Country (United States) 97 of 261
Year (2002) 4 of 4
Size (of disclosed) 8 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-09-09 Datek Online Holdings

Iselin, New Jersey, United States

Established in 1998, privately held Datek Online Holdings Corp. is one of the fastest-growing financial services companies in the United States and through affiliates provides swift access to financial services through innovative technology. The Company’s primary businesses are Datek Online Brokerage Services LLC, a pioneer in the online brokerage industry; iClearing LLC, a securities clearing operation; and Watcher Technologies, a provider of cutting-edge trading systems for the professional trading industry.

Sell $1.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-10-29 Workgroup Technology

Lowell, Massachusetts, United States

Workgroup Technology Corporation (WTC) develops, markets and supports WTC ProductCenter™ (formerly CMS), the collaborative product data management solution that provides product content .

Sell -
Investor

FFL Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1997
PE ASSETS 5.4B USD
Size Mega
Type Sector Focused
DESCRIPTION

FFL Partners (formerly known as Friedman Fleischer & Lowe) is a private equity group focused on majority and minority investments in North American middle-market companies. Prospective businesses generally have revenues of $30 to $400 million and are valued between $50 and $300 million. Target situations include ownership restructurings in closely-held and family-owned companies, management buyouts, PIPEs, growth equity fundings, take privates, special situations, and recapitalizations. Sectors of interest include outsourced business services, education and training, marketing and media, consumer products, healthcare, and financial services. FFL Partners was formed in 1997 and is based in San Francisco.


DEAL STATS #
Overall 5 of 51
Sector (Consumer Products) 1 of 1
Type (Stake Purchase) 1 of 3
State (Kentucky) 1 of 1
Country (United States) 4 of 47
Year (2002) 1 of 1
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-10-10 Montpelier Re Holdings

Pembroke, Bermuda

Montpelier Re Holdings Ltd. is a insurance and reinsurance company that focuses on the property reinsurance market. Targeted lines of business include property catastrophe excess of loss reinsurance, property risk excess of loss reinsurance, facultative reinsurance, whole account quota share reinsurance, and property retrocession reinsurance.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-08-07 CapitalSource

Chevy Chase, Maryland, United States

CapitalSource, Inc. is a commercial finance company specialized in to the healthcare, re-discount, finance, real estate, and corporate finance sectors. By combining a broad array of financial products, a large and permanent balance sheet, an execution-focused business model and a commitment to rigorous and thoughtful research and analysis, CapitalSource delivers unique and valuable financial solutions to small to mid-size businesses seeking to grow.

Sell -
Investor

Arrowhead Investment Management

Greenwich, Connecticut, United States

Investor Investor Investor Investor

website


Category Mezzanine Finance Firm
Founded 1996
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Arrowhead Investment Management is a provider of subordinated debt, preferred stock and non-control common equity to mid-sized businesses. Arrowhead invests alongside private equity sponsors in acquisitions, buyouts, recapitalizations and growth capital transactions. Arrowhead is a generalist investor, however the Firm tends to focus on healthcare, packaging, chemicals, consumer products, industrial manufacturing, value-added distribution and business services. Arrowhead looks to commit $10 to $100 million in transactions valued up to $500 million. Arrowhead Investment Management was formed in 1996 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 9 of 24
Sector (Consumer Products) 2 of 5
Type (Stake Purchase) 1 of 2
State (Kentucky) 1 of 1
Country (United States) 9 of 24
Year (2002) 2 of 2
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-05-01 Reef Holdings

San Diego, California, United States

Reef Holdings Corp. is a manufacturer of footwear. Reef leverages its brand image among its core consumers to expand its presence in shoes and apparel, both in the U.S. and internationally.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-07-01 Meineke

Charlotte, North Carolina, United States

Meineke is a franchise-based international automotive repair chain with over 750 locations and a 50-year history of delivering consistent and high-quality repair and preventative maintenance services. Meineke CARSTAR is based in Charlotte, North Carolina.

Buy -