Mergers & Acquisitions
February 4, 2025
Tempur Sealy Closing Tomorrow
Tempur Sealy Cleared to Close Acquisition of Mattress Firm
Feb. 04, 2025 12:10 PM ETTempur Sealy International, Inc. (TPX)
LEXINGTON, Ky., Feb. 4, 2025 /PRNewswire/ — Tempur Sealy International, Inc. (TPX) (NYSE: TPX, “Company” or “Tempur Sealy”) announced today that it expects to close its previously announced acquisition of Mattress Firm Group Inc. (“Mattress Firm”), the nation’s largest mattress specialty retailer, on Wednesday, February 5, 2025. This follows the ruling from the United States District Court for the Southern District of Texas denying the motion by the Federal Trade Commission (“FTC”) for a preliminary injunction to halt the closing of the proposed acquisition. The FTC has indicated that it will not seek emergency relief from the Fifth Circuit and will not prevent the transaction from closing.
Tempur Sealy Chairman and CEO Scott Thompson commented, “We are excited to move forward with our combination with Mattress Firm, which creates the leading vertically integrated global bedding company and which we strongly believe will bring significant benefits to all of our stakeholders.”
Business Update Call
The Company will hold a conference call on Thursday, February 6, 2025 at 8:00 a.m. Eastern Time to discuss the transaction.
The Company has a separate conference call scheduled to discuss the Fourth Quarter and Full Year 2024 financial results on Thursday, February 20th, 2025 at 8:00 a.m. Eastern Time.
The calls will be webcast and can be accessed on the Company’s investor relations website at investor.tempursealy.com. After the conference calls, webcast replays will remain available on the investor relations section of the Company’s website for 30 days.
February 4, 2025
Reaxis Acquired by TIB Chemicals
Grace Matthews advises Reaxis on its transaction with TIB Chemicals
MILWAUKEE (February 4, 2025) TIB Chemicals AG (“TIB Chemicals”), headquartered in Mannheim, Germany, has announced that it has acquired Reaxis, Inc. (“Reaxis”), a leading U.S. manufacturer of tin catalysts and metal-based specialty additives. By acquiring Reaxis, TIB Chemicals strengthens its presence in the North American market and reinforces its position as a global leader in tin chemicals, particularly tin catalysts. Together, TIB Chemicals and Reaxis are poised to continue delivering innovative solutions that meet the evolving needs of global markets. Grace Matthews advised Reaxis on the transaction.
ABOUT REAXIS, INC.
Reaxis, Inc. is a leading U.S. supplier of tin catalysts and specialty metal-based additives. Reaxis has built an industry reputation for its product development expertise, scale-up know-how, and dedicated technical support. Reaxis’ chemistries play a pivotal role in delivering cutting-edge performance in its customers’ products and are used in various end markets including polymer synthesis and crosslinking, surface finishing, water treatment, performance chemicals, oil and gas, and peroxide stabilization. For more information, please visit www.reaxis.com.
ABOUT TIB CHEMICALS AG
Founded in 1872, TIB Chemicals AG is a globally oriented, mid-sized company specializing in the development, production, and distribution of high-quality chemicals. With a diverse portfolio of over 1,000 products spanning basic chemicals, inorganic specialty chemicals, and coating systems, TIB Chemicals serves a wide range of international customers through its locations in three countries. With more than 450 dedicated employees who share a passion for chemistry, TIB Chemicals stands out for its extensive 150-year legacy as a family-owned business in the chemical industry. For more information, please visit www.tib-chemicals.com.
ABOUT GRACE MATTHEWS
Grace Matthews, Inc., a Milwaukee-based investment bank, provides merger, acquisition, and corporate finance advisory services to private and public companies across the chemical and material science value chain. Over the past 25 years, Grace Matthews has successfully completed over 150 transactions on behalf of private, middle-market companies, private equity firms, and large multi-national corporations. For more detailed information on Grace Matthews, visit www.gracematthews.com.
February 2, 2025
Tempur Sealy and Mattress Firm Deal Good to Go
Tempur Sealy $4B deal for Mattress Firm cleared by federal judge
Feb. 01, 2025 10:22 AM ETTempur Sealy International, Inc. (TPX) StockBy: Rob Johnson, SA News Editor
Update at 2:04 p.m. ET. Adds statement from Tempur Sealy.
A federal judge on Friday cleared Tempur Sealy International’s (NYSE:TPX) $4B takeover of Mattress Firm, rejecting the Federal Trade Commission’s claim that the combination would harm consumers.
U.S. District Judge Charles Eskridge ruled that the companies cannot close the transaction until Feb. 7 to give the FTC time to appeal the decision.
The judge did not disclose his reasons for the decision, which was filed under seal. He cited confidential and proprietary information for his ruling, adding that a redacted version of his full decision will be released Tuesday.
When the deal was first announced in May 2023, Tempur Sealing said it expected the deal to close in the second half of last year.
The FTC sought to block the deal, citing “multiple deal documents” that showed Tempur Sealy’s plans to limit rivals’ access to Mattress Firm and lose access to the single most important retail channel.
“We are pleased the court ruled in favor of completing our previously announced transaction with Tempur Sealy, which we expect to close in the near future,” Mattress Firm Chief Executive John Eck said in a statement to Seeking Alpha.
“We are pleased that the United States District Court for the Southern District of Texas has declined to enjoin our acquisition of Mattress Firm,” Tempur Sealy said in a statement to Seeking Alpha. “Despite the FTC’s ongoing efforts to block the transaction, we will make every effort to close it as soon as possible.”
The FTC did not immediately respond to a request for comment by Seeking Alpha.
January 26, 2025
3Z Brands Acquires Southerland
Phoenix company buys Nashville mattress manufacturer
3Z Brands to use local office as East Coast e-commerce hub
- William Williams
- Dec 18, 2024
Nashville-based mattress manufacturing company Southerland has been sold for an undisclosed sum.
According to a release, Phoenix-based 3Z Brands is the new owner. 3Z bills itself as a manufacturer, wholesaler, retailer, and direct-to-consumer distributor of sleep products.
In addition to Nashville, Southerland offers manufacturing facilities in Phoenix, Tualatin (Ore.) and Oklahoma City. The company serves wholesale customers in 43 states.
With the acquisition, 3Z will have Southerland’s Nashville location serve as the company’s East Coast e-commerce hub. The release does not note if Southerland will now operate with the 3Z moniker.
The sale comes 3.5 years after Southerland announced plans to lease space in an Antioch facility off Interstate 24, with the move made to increase production capacity by more than a third and yield up to 40 new jobs.
That relocation was necessitated by the November 2020 sale for $6.5 million of the North Davidson County property at which Southerland operated for nearly 50 years (read here). The seller was an LLC that had no affiliation with Southerland.
“This partnership strengthens our ability to serve our loyal customers with the quality they expect while giving us access to new resources and expertise to help us grow,” Bryan Smith, Southerland president, said in the release.
“Together, we’re well-positioned to continue delivering excellence, with exciting opportunities to bring our products to even more customers nationwide.”
With an office also in New York, 3Z operates a portfolio of brands that include Helix, Brooklyn Bedding, Leesa, Birch, Bear, and Nolah.
December 15, 2024
Borsodchem Looking at What’s Left of Vencorex
Vencorex: BorsodChem will insolventen Isocyanat-Hersteller kaufen
03.12.2024
Im französischen Pont-de-Claix bei Grenoble betreibt Vencorex einen Großteil der Produktion (Foto: Vencorex)
Kleiner Lichtblick für den seit dem 21. September 2024 unter gerichtlicher Verwaltung stehenden, insolventen Isocyanat-Erzeuger Vencorex (Saint Priest / Frankreich): Das Handelsgericht in Lyon hat die Frist für eine mögliche Übernahme durch einen Investor um vier Monate bis zum 6. März 2025 verlängert. „Mehr Zeit, um eine Lösung zu finden“, kommentierte Séverine Dejoux, Repräsentantin der Gewerkschaft CGT, die Gerichtsentscheidung in französischen Medien.
Bisher gibt es lediglich eine Interessensbekundung seitens der europäischen Wanhua-Tochter BorsodChem (Kazincbarcika / Ungarn). Diese sieht einen Kaufpreis von 1 Mio EUR sowie eine Weiterbeschäftigung von lediglich 25 der aktuell gut 460 Mitarbeiter vor.
Die Vencorex-Muttergesellschaft PTT Global Chemical (PTT GC, Bangkok / Thailand) hatte für das französische Unternehmen am 10. September Insolvenzantrag gestellt.
Pardon the google translation!
A small ray of hope for the insolvent isocyanate producer Vencorex (Saint Priest / France), which has been under court administration since September 21, 2024: The Commercial Court in Lyon has extended the deadline for a possible takeover by an investor by four months until March 6, 2025. “More time to find a solution,” Séverine Dejoux, representative of the CGT trade union, commented on the court decision in French media. So far, there has only been an expression of interest from Wanhua’s European subsidiary BorsodChem (Kazincbarcika / Hungary). This provides for a purchase price of EUR 1 million and the continued employment of only 25 of the current 460 employees. Vencorex’s parent company PTT Global Chemical (PTT GC, Bangkok / Thailand) had filed for insolvency for the French company on September 10.
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