|FOR IMMEDIATE RELEASE||
Chris Tofalli Public Relations, LLC
+1 914 834 4334
NEW YORK, April 18, 2016 – Arsenal Capital Partners (Arsenal), a leading New York-based private equity firm that invests in middle-market specialty industrial and healthcare companies, announced today it has completed the acquisition of certain foam production assets (HSM Foam) from Hickory Springs Manufacturing Company (HSM). HSM Foam will become a subsidiary of Elite Comfort Solutions, a leading specialty foam platform created by Arsenal in 2016. Elite Comfort Solutions serves the bedding and home furnishings industries and has a national network of 11 production facilities.
Headquartered in Conover, North Carolina, HSM Foam is one of the largest producers of flexible polyurethane foam in North America. HSM Foam provides hundreds of foam formulations for furniture, bedding, medical and packaging market applications. Its range of products includes Code*RedII® combustion inhibitive foam, EnduroFoam® premium performance foam and Preserve®, the first bio-based polyurethane foam. HSM Foam’s operations are located in North Carolina (Conover), Arkansas (Fort Smith), Mississippi (Verona), California (Commerce) and Georgia (Americus). HSM’s foam fabrication operations will continue to be supported by Elite Comfort Solutions.
Dino Rossi, interim CEO of Elite Comfort Solutions and an advisor to its board, said “We look forward to the partnership with HSM Foam’s management and employees. The acquisition of HSM Foam strengthens Elite Comfort Solutions’ national reach and adds complementary products and technologies that broaden our ability to serve customers and markets globally.”
About Arsenal Capital Partners
Arsenal Capital Partners is a leading New York-based private equity firm that invests in middle market healthcare and specialty industrial companies. Arsenal makes investments in sectors where the firm has significant prior knowledge and experience. Arsenal targets businesses that have the potential for further value creation, and works closely with management to accelerate growth by leveraging the firm’s industry focus and operational improvement capabilities. Arsenal currently manages $2.6 billion of committed equity capital. For additional information on Arsenal Capital Partners, please visit www.arsenalcapital.com.