Red Bank, New Jersey — Innocor, a US flexible foam products maker, has agreed to be acquired by Bain Capital Private Equity. The firm will continue to be operated by its current management team under president and ceo Carol Eicher. Financial terms of the purchase from Sun Capital Partners were not disclosed.
Innocor was founded in 1996 and headquartered in Red Bank, New Jersey. The firm was formed through the 2014 acquisition of Flexible Foam Products which was integrated into Sleep Innovations. Innocor has 22 manufacturing plants and distribution centers throughout the US.
Innocor Comfort, its consumer products division, makes memory foam products including mattresses, pillows, and mattress toppers under Sleep Innovations, Novaform and other brands. Innocor Foam Technologies makes foam products for commercial customers.
“Our innovative foam technologies have served as the core foundation for a broad range of products that enable our customers to deliver unrivaled comfort and quality to consumers,” said Eicher said: "We believe Bain Capital Private Equity’s resources and capabilities will give us an important advantage as we continue to grow our business."
“Innocor is at the forefront of an industry with attractive growth prospects,” said Stephen Thomas, a managing director at Bain Capital Private Equity. “We believe Innocor is well-positioned to continue to develop innovative products that enable its customers to meet increasing consumer demand for the comfort that foam bedding and furniture offer.
The transaction is expected to close during the first quarter of 2017, Bain added.
