Novacap Portfolio Company Kingsdown Announces Strategic Minority Investment from Somnigroup International
Kingsdown, a North American leader in handcrafted luxury sleep solutions, announced that Somnigroup International Inc. (NYSE: SGI), the global parent of Tempur Sealy International and Mattress Firm, has made a passive minority investment in Kingsdown. This transaction reflects Somnigroup’s strong belief in Kingsdown’s heritage, brand, and future.
“Somnigroup’s investment represents a powerful endorsement of Kingsdown’s Style & Substance brand and our proven ability to scale the artistry and innovation that have defined our company for over 120 years,” said Frank Hood, Chief Executive Officer of Kingsdown. “As a passive investor, Somnigroup’s confidence in Kingsdown underscores the strength of our business model, our leadership team, and our growth trajectory.”
“We are proud to partner with Kingsdown, whose long-standing reputation for quality and innovation align closely with our own values,” said Scott Thompson, Chairman and CEO of Somnigroup. “Kingsdown’s tailored product range complements our existing portfolio, broadening our reach across key consumer segments. This investment demonstrates our disciplined capital allocation strategy, confidence in the Kingsdown team and our expectations of long-term growth in the U.S. and Canadian bedding markets.”
“For our employees, suppliers, and retail partners, it’s better business as usual,” added Hood. “This investment doesn’t define Kingsdown, it affirms confidence in our future and the enduring strength of our brand.”
About Kingsdown
Founded in 1904, Kingsdown is one of North America’s most respected sleep brands, known for its handcrafted mattresses and diagnostic sleep systems. With operations across the U.S., Canada, and international markets, Kingsdown products reflect a unique balance of artistry and science, delivering premium comfort backed by deep sleep research. Learn more at www.kingsdown.com
About Somnigroup
Somnigroup (NYSE: SGI) is the world’s largest bedding company, dedicated to improving people’s lives through better sleep. With superior capabilities in design, manufacturing, distribution, and retail, the company delivers breakthrough sleep solutions and serves the evolving needs of consumers in more than 100 countries through its fully owned businesses—Tempur Sealy, Mattress Firm, and Dreams. Its portfolio includes some of the most recognized brands in the industry, including Tempur-Pedic®, Sealy®, Stearns & Foster®, and Sleepy’s®. Somnigroup’s global omni-channel platform enables it to connect with consumers wherever they shop, offering innovative, tailored sleep solutions and exceptional retail experiences.
About Novacap
Novacap is a leading North American private equity investor and one of Canada’s most experienced private equity firms. Founded in 1981 to partner with visionary entrepreneurs, Novacap focuses on middle market and lower-middle market companies in four core sectors: Technologies, Digital Infrastructure, Industries and Financial Services. Novacap combines deep sector specific expertise and strategic and operational excellence to partner with entrepreneurs and management teams. Since its inception, the firm has made primary and add-on investments in more than 250 companies. With over US $11 billion in assets under management and a presence across offices in Montreal, Toronto, and New York, Novacap accelerates value creation through strategic growth initiatives and a strong focus on execution.