Wafra Partners Announces the Acquisition of Advanced Sleep Concepts, Inc.
October 17, 2006
Wafra Partners and Wafra Investment Advisory Group are pleased to announce the acquisition of Advanced Sleep Concepts, Inc. by a new entity formed by the management of Advanced Sleep Concepts, Wafra Partners, a New York based middle market private equity group, and Weinberg & Bell Group of Cleveland, OH.
Advanced Sleep Concepts is the holding company for Spears Mattress Company and Mattress Max. Spears is a Rome, GA based manufacturer of ultra-premium, premium, mid-range and promotional bedding products sold primarily under the Englander brand name. The company's products are sold to mattress specialty stores and furniture stores throughout the Southeastern United States. Spears' operates out of a 300,000 square foot facility in Rome, GA. The company maintains the Englander license for Georgia, Florida, Alabama, Tennessee, North and South Carolina, Virginia, central and southern West Virginia, eastern Kentucky and southern Ohio.
Mattress Max is a furniture and bedding outlet store in Rome, GA.
The company was founded in 1978 by Terry, Gene and Ed Spears and remained family owned until the acquisition by Wafra and Weinberg & Bell. The Spears management team will remain intact and maintain an equity ownership in the company.