M&A Deal Summary

Leggett & Platt Acquires Elite Comfort Solutions

On November 7, 2018, Leggett & Platt acquired chemicals company Elite Comfort Solutions from Arsenal Capital Partners for 1.3B USD

Acquisition Highlights
  • This is Leggett & Platt’s 1st transaction in the Chemicals sector.
  • This is Leggett & Platt’s largest (disclosed) transaction.
  • This is Leggett & Platt’s 23rd transaction in the United States.
  • This is Leggett & Platt’s 3rd transaction in Georgia.

M&A Deal Summary
Date 2018-11-07
Target Elite Comfort Solutions
Sector Chemicals
Buyer(s) Leggett & Platt
Sellers(s) Arsenal Capital Partners
Deal Type Add-on Acquisition
Deal Value 1.3B USD

Target

Elite Comfort Solutions

Newnan, Georgia, United States
Elite Comfort Solutions, Inc. is a provider of specialty foam. Elite Comfort Solutions has a national network of 16 facilities throughout the U.S. Elite Comfort Solution is based in Newnan, Georgia.

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Buyer(S) 1

Buyer

Leggett & Platt

Carthage, Missouri, United States
Category Company
Founded 1883
Sector Manufacturing
Employees19,300
Revenue 4.7B USD (2023)
DESCRIPTION
Entrance to Leggett & Platt's corporate headquarters in Carthage, Missouri.
Entrance to Leggett & Platt's corporate headquarters in Carthage, Missouri.

Leggett & Platt is a diversified manufacturer that conceives, designs and produces a wide range of engineered components and products found in many homes, offices, retail stores, automobiles and commercial aircraft. The Company's residential furnishing's segment supplies a variety of components used by bedding and upholstered furniture manufacturers in the assembly of their finished products. The Company's commercial fixtures and components group designs, produces, installs and manages our customers’ store fixtures projects as well as designs, manufactures, and distributes a wide range of engineered components and products primarily for the office seating market. The Company's industrial materials segment manufactures a variety of wires and tubing products. The Company's specialized product segment designs, produces and sells components for automotive seating, specialized machinery and equipment, and service van interiors. Leggett & Platt was formed in 1883 and is based in Carthage, Missouri.

DEAL STATS #
Overall 29 of 30
Sector (Chemicals) 1 of 1
Type (Add-on Acquisition) 28 of 29
State (Georgia) 3 of 3
Country (United States) 23 of 23
Year (2018) 2 of 2
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-28 Precision Hydraulic Cylinders

Beulaville, North Carolina, United States

Precision Hydraulic Cylinders is a manufacturer and supplier of hydraulic cylinders for original equipment manufacturers in the lift-truck, material handling, and mobile equipment markets. Precision Hydraulic Cylinders was founded in 1997 and is based in Beulaville, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-25 Kaymed

Dublin, Ireland

Kaymed is a premium foam and mattress manufacturer in Ireland known for its excellent product quality and wholly owned brands including Kayfoam, Kaymed, King Koil, Odearest and iGel. Kaymed is also a manufacturer of beds for the emerging European Bed in a Box sector.

Buy -

Seller(S) 1

SELLER

Arsenal Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2000
PE ASSETS 10.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Arsenal Capital Partners is a private equity firm focused on middle-market healthcare, specialty industrial, and financial service companies. Specifically, Arsenal looks to acquire businesses in the areas of specialty chemicals, aerospace/defense, transportation, environmental services, business services, insurance, asset management, financial technology, medical products, healthcare IT, and healthcare contract research/manufacturing. The Firm typically seeks to commit $50 to $300 million per investment in profitable businesses with at least $10 million of EBITDA. Funds are generally used to support buyouts, recapitalizations, growth financings, consolidations, and divestitures. The Firm avoids investing in companies reliant on high levels of technology. Arsenal Capital Partners was formed in 2000 and is headquartered in New York City.

DEAL STATS #
Overall 26 of 35
Sector (Chemicals) 10 of 12
Type (Add-on Acquisition) 13 of 17
State (Georgia) 1 of 1
Country (United States) 25 of 32
Year (2018) 5 of 5
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-22 Polytek

Easton, Pennsylvania, United States

Polytek is a manufacturer of liquid mold rubbers and casting plastics. Polytek’s proprietary specialty polymers are used by customers to create flexible molds to reproduce highly-detailed, complex objects for a variety of industrial and consumer applications, including concrete casting, special effects, tooling, sculpture, and prototyping. Polytek was founded in 1984 and is based in Easton, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-17 Accumen

Scottsdale, Arizona, United States

Accumen is a healthcare performance partner providing end-to-end strategy and services to drive value and long-term sustainability for the clinical lab, outreach services, patient blood management, and imaging services. Accumen was founded in 2011 and is based in Scottsdale, Arizona.

Buy -
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