Silentnight Group Limited, a Lancashire, UK-based bed and mattress manufacturer, has been acquired by H.I.G. Europe, along with its debt affiliate Bayside Capital.
The transaction secures the company’s future after that it was forced to file for administration following the unsuccessful negotiations with the Pension Protection Fund over its unserviceable pension deficit.
According to a written statement, the deal will help Silentnight safeguard the jobs of its 1,250 employees.
H.I.G. Europe will take full ownership of the company’s ongoing business interests, including its brands and all other assets.
Silentnight’s brands include Sealy UK, Rest Assured and Silentnight Beds. It operates in the UK and Ireland.