M&A Deal Summary

H.I.G. Private Equity and Bayside Capital Acquire Silentnight Group

On May 11, 2011, private equity firm H.I.G. Private Equity and lender Bayside Capital acquired furniture company Silentnight Group

Acquisition Highlights
  • This is H.I.G. Private Equity’s 2nd and Bayside Capital’s 1st transaction in the Furniture sector.
  • This is H.I.G. Private Equity’s 7th and Bayside Capital’s 1st transaction in the United Kingdom.

M&A Deal Summary

Date 2011-05-11
Target Silentnight Group
Sector Furniture
Buyer(s) H.I.G. Private Equity
Bayside Capital
Deal Type Special Situations/Distressed

Target

Silentnight Group

Barnoldswick, United Kingdom
Silentnight Group is a bed manufacturer. Home to some of the most prestigious brand names in the industry, including Sealy, Rest Assured and the UK consumer Superbrand, Silentnight Beds, the Group prides itself on innovation and has a vision of making its brands the most sought-after in the Ireland. Silentnight Group is based in Barnoldswick, United Kingdom.

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Buyer(S) 2

Buyer

H.I.G. Private Equity

Miami, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1993
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HIG Private Equity is the private equity arm of HIG Capital. The Firm focuses on management buyouts, growth equity investments, and recapitalizations of mid-sized to large companies valued between $50 million and $1 billion. HIG will also consider industry consolidations, going-privates, and corporate divestitures. Sectors of interest include aerospace, building materials, business services, consumer products, distribution, healthcare, infrastructure, contracting, manufacturing, media, oil & gas services, IT, and transportation. HIG was formed in 1993 is based in Miami, Florida.


DEAL STATS #
Overall 109 of 383
Sector: Furniture M&A 2 of 3
Type: Special Situations/Distressed M&A Deals 6 of 8
Country: United Kingdom M&A 7 of 30
Year: 2011 M&A 14 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-04-12 Walter Services

Ettlingen, Germany

Walter Services is a German provider of business process outsourcing (BPO) services for contacts with consumers. The services offered extend over the entire value chain of consumer contact. The company employs over 8,500 employees in total, who work in 19 locations in four countries (Germany, Austria, Poland and Romania).

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-19 Protocol Global Solutions

Sarasota, Florida, United States

Protocol Global Solutions, Inc. is a leading provider of electronic customer relationship management (CRM)services, providing a full suite of CRM services. Protocol enables its clients to identify, acquire and retain their customers, thereby increasing their revenue, customer base and market share. Protocol designs and implements comprehensive solutions that utilize the Internet and other communication channels to provide high value-added services that address all the eCRM needs of its clients.

Sell -
Buyer

Bayside Capital

Miami, Florida, United States

Investor Investor Investor Investor Investor


Category Lender
PE ASSETS 7.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Bayside Capital is the credit affiliate of mega-sized private equity firm, HIG Capital. The Firm is split into three groups, Bayside Credit Partners, Bayside Fixed Income, and Bayside Special Situations. Within its operating segments, the Firm provides a variety of equity and debt financing solutions to a variety of private and public companies. Bayside typically targets businesses with revenues in excess of $50 million and will invest $10 to $100 million per transaction. Bayside will invest in companies across a broad spectrum of industries, including business services, manufacturing, healthcare, retail, food/agriculture, and specialty finance. The Firm will not invest in start-up enterprises, real estate ventures, or project finance. Although Bayside seeks to purchase a controlling interest in its portfolio companies, the firm will consider promising minority investments. Bayside prefers companies with substantial operations in the United States and Canada, but will consider opportunities in Europe. Bayside Capital has offices in Miami, Atlanta, Boston, and San Francisco.


DEAL STATS #
Overall 10 of 15
Sector: Furniture M&A 1 of 1
Type: Special Situations/Distressed M&A Deals 2 of 3
Country: United Kingdom M&A 1 of 2
Year: 2011 M&A 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-01 Jackson Hewitt Tax Service

Jersey City, New Jersey, United States

Jackson Hewitt Tax Service is a tax and accounting service that provides clients access to simple, low-cost solutions to manage their taxes and tax refunds. Jackson Hewitt Tax Service was formed in 1985 and is based in Jersey City, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-19 Protocol Global Solutions

Sarasota, Florida, United States

Protocol Global Solutions, Inc. is a leading provider of electronic customer relationship management (CRM)services, providing a full suite of CRM services. Protocol enables its clients to identify, acquire and retain their customers, thereby increasing their revenue, customer base and market share. Protocol designs and implements comprehensive solutions that utilize the Internet and other communication channels to provide high value-added services that address all the eCRM needs of its clients.

Sell -