NEW YORK—Arsenal Capital Partners, a private equity firm, completed the sale of Elite Comfort Solutions Inc. to Leggett & Platt for $1.25 billion.
ECS, which provides proprietary polyurethane foam solution technology, operates a vertically integrated model with 16 facilities across the U.S., according to an Arsenal news release. It produces specialty foam, develops chemicals and additives used in foam production and manufactures private-label finished products.
The company's specialty foam products include finished mattresses sold through traditional and online channels, mattress components, mattress toppers and pillows and furniture foams.
ECS, headquartered in Newnan, Ga., will continue the company's trajectory of innovation and growth under the Leggett & Platt organization, according to ECS CEO Chris Chrisafides.
Arsenal sees a significant opportunity for ECS to leverage Leggett & Platt's reputation and infrastructure, and drive continued growth in the bedding and furniture markets, said Tim Zappala, a senior partner at Arsenal.
Leggett & Platt is a U.S. manufacturer of bedding components, adjustable beds, bedding industry machinery, automotive seat components, furniture components, flooring underlayment and high-carbon drawn steel wire.