IPO • Retail

Prospect Hill Growth Partners Exits Mattress Firm

On November 18, 2011, invested in retailer Mattress Firm from Prospect Hill Growth Partners

Investment Context

This is transaction in the Retail sector.
This is transaction in the United States.
This is transaction in Texas.

Investment Fate

Mattress Firm was sold to a strategic buyer in 2016 for 3.8B USD.
Mattress Firm went bankrupt in 2018.
Mattress Firm was sold to a strategic buyer in 2023 for 4.0B USD.

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Investment Summary
Date	November 18, 2011
Target	Mattress Firm
Sector	Retail
Sellers(s)	Prospect Hill Growth Partners
Deal Type	IPO

Target Company

Mattress Firm

Houston, Texas, United States

Mattress Firm's flagship store in Houston, Texas.

Mattress Firm is multi-brand mattress retailer. Mattress Firm brands include Mattress Firm, Sleepy's and Sleep Train, offers a broad selection of both traditional and specialty mattresses, bedding accessories and other related products. Mattress Firm was formed in 1886 and is based in Houston, Texas.

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Seller Profile 1

SELLER

Prospect Hill Growth Partners

Waltham, Massachusetts, United States

Investor Investor

Category	Private Equity Firm
Founded	1995
PE ASSETS	2.7B USD
Size	Large
Type	Sector Agnostic

DESCRIPTION

Prospect Hill Growth Partners is a private equity firm specializing in leveraged buyouts and recapitalizations of middle-market growth companies across the US. Prospect Hill looks for profitable businesses ($5 to $25 million of EBITDA) with annual revenues from $50 to $300 million with strong brands and leading market positions. Target sectors include consumer products, healthcare, specialty retail, and asset management. Prospect Hill Growth Partners was formerly known as J.W. Childs and changed its name in 2019. The Firm was originally formed in 1995 and is headquartered in Waltham, Massachusetts.

Deal Context for Seller	#
Overall	11 of 23
Sector: Retail	1 of 3
Type: IPO	2 of 2
State: Texas	1 of 1
Country: United States	11 of 23
Year: 2011	2 of 2

PREVIOUS DEAL

DATE	TARGET	DEAL TYPE	VALUE
2011-05-23	EmployBridge Duluth, Georgia, United States EmployBridge is a provider of specialty staffing services including three primary industry verticals: logistics, manufacturing, and transportation. EmployBridge has developed service models that enable it to attract and place qualified personnel through the development of defined recruiting, testing, placement, and sales processes that are tailored to meet the needs of its target industries. EmployBridge is based in Duluth, Georgia.	Sell	$165M

DATE

TARGET

DEAL TYPE

VALUE

2011-05-23

EmployBridge

Duluth, Georgia, United States

EmployBridge is a provider of specialty staffing services including three primary industry verticals: logistics, manufacturing, and transportation. EmployBridge has developed service models that enable it to attract and place qualified personnel through the development of defined recruiting, testing, placement, and sales processes that are tailored to meet the needs of its target industries. EmployBridge is based in Duluth, Georgia.

Sell

$165M

FOLLOWING DEAL

DATE	TARGET	DEAL TYPE	VALUE
2012-08-22	Tile Shop Plymouth, Minnesota, United States Tile Shop is a specialty retailer of manufactured and natural stone tiles, setting and maintenance materials, and related accessories in the United States. Tile Shop was founded in 1985 and is based in Plymouth, Minnesota.	Sell	-

DATE

TARGET

DEAL TYPE

VALUE

2012-08-22

Tile Shop

Plymouth, Minnesota, United States

Tile Shop is a specialty retailer of manufactured and natural stone tiles, setting and maintenance materials, and related accessories in the United States. Tile Shop was founded in 1985 and is based in Plymouth, Minnesota.