M&A Deal Summary

Birch Hill Equity Partners and Westerkirk Capital Acquire Sleep Country

On September 24, 2008, private equity firm Birch Hill Equity Partners and asset manager Westerkirk Capital acquired retailer Sleep Country for 356M USD

Acquisition Highlights
  • This is Birch Hill Equity Partners’ 2nd and Westerkirk Capital’s 1st transaction in the Retail sector.
  • This is Birch Hill Equity Partners’ 4th and Westerkirk Capital’s largest (disclosed) transaction.
  • This is Birch Hill Equity Partners’ 20th and Westerkirk Capital’s 1st transaction in Canada.
  • This is Birch Hill Equity Partners’ 13th and Westerkirk Capital’s 1st transaction in Ontario.
Investment Fate
  • Sleep Country went public in 2015.

M&A Deal Summary
Date 2008-09-24
Target Sleep Country
Sector Retail
Buyer(s) Birch Hill Equity Partners
Westerkirk Capital
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 356M USD

Target

Sleep Country

Brampton, Ontario, Canada
website
Sleep Country is the largest mattress retailer in Canada under both the Sleep Country Canada and Dormez-vous banners. In addition, Sleep Country is the largest mattress retailer in Arizona under the Sleep America banner. Sleep Country Canada was founded in 1994 and is based in Brampton, Canada.

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Buyer(S) 2

Buyer

Birch Hill Equity Partners

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1994
PE ASSETS 5.0B CAD
Size Large
Type Sector Agnostic
DESCRIPTION

Birch Hill Equity Partners is a middle-market private equity firm focused on investments in Canadian companies. Birch Hill targets growth oriented businesses valued between C$50 and C$1000 million. Sectors of interest include agriculture, communications, energy, environmental, entertainment, distribution, healthcare, manufacturing, software, and technology. Birch Hill will not consider investments in real estate, pure commodity companies or start ups. Birch Hill Equity Partners was formed in 1994 and is based in Toronto, Canada.

DEAL STATS #
Overall 24 of 45
Sector (Retail) 2 of 3
Type (Buyout (LBO, MBO, MBI)) 16 of 23
State (Ontario) 13 of 24
Country (Canada) 20 of 40
Year (2008) 3 of 3
Size (of disclosed) 4 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-08-24 Q9 Networks

Toronto, Ontario, Canada

Q9 Networks, Inc. is a provider of outsourced data center infrastructure for mission-critical IT operations. Operates three state-of-the-art data centers in Ontario and Alberta, Canada. Headquartered in Toronto, ON.

Buy $361M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-01-28 Marsulex

Toronto, Ontario, Canada

Marsulex, Inc. is a provider of industrial services, including environmental compliance solutions for air quality control and industrial hazardous waste streams, and petroleum coke cutting and handling services for oil refineries, and is a producer and marketer of sulphur-based industrial chemicals.

Buy -
Buyer

Westerkirk Capital

Victoria, British Columbia, Canada

website

Category Asset Manager
Size Small
Type Sector Agnostic
DESCRIPTION

Westerkirk Capital is an investment firm focused on partnering with business owners and managers to pursue growth opportunities. The Firm manages private capital for a single Canadian investor and generally takes a long-term approach when investing. Westerkirk is a generalist investor, with interest in transportation, apparel, media, manufacturing, business services, aerospace, consumer products, and real estate. Westerkirk Capital is based in Victoria, British Columbia.

DEAL STATS #
Overall 1 of 6
Sector (Retail) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 1 of 5
State (Ontario) 1 of 3
Country (Canada) 1 of 6
Year (2008) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-05-04 Gaspard & Sons

Winnipeg, Manitoba, Canada

Gaspard & Sons Ltd. is a manufacturer and distributor of academic regalia, clergy vestments, choral robes, and legal and judicial attire. The Company’s products are primarily sold direct-to-user in Canada, while the U.S. market is served via a combination of company and independent representatives.

Buy -
Mergr

Product

Company

Legal