Sleep Innovations hires firm to help it evaluate opportunities

Furniture Today Staff -- Furniture Today, January 13, 2012

WEST LONG BRANCH, N.J. — Sleep Innovations, a supplier of mattress toppers, pillows and other sleep accessories, said it has retained a New York-based investment banking firm to evaluate "strategic opportunities" that could include the sale of the business.

The company said the firm of Sawaya Segalas & Co. will look for ways for current investors to unlock the value created since a 2009 management change, and also attract longer term investors committed to the company's growth plans.

"We are a significantly transformed business as a result of implementing our strategic plan that focuses on innovation, customer collaboration and operational excellence," said Michael Thompson, president and CEO. "Sleep Innovations has an extremely talented team of nearly 800 employees who are dedicated to continuous improvement and are enthusiastic about the possibility of accelerating our growth initiatives, including the introduction of a robust pipeline of new products."

The company didn't set a timetable for a decision, but said it "expects the process to progress quickly."

The company operates a foam pouring facility in Baldwyn, Miss.