New York – Arsenal Capital Partners has completed the sale of Elite Comfort Solutions to Leggett & Platt for $1.25 bn.
Leggett & Platt is a US bed maker, and also produces automotive seats, furniture components and carpet underlay. The deal was announced in November 2018 with a January 2019 closing date.
John Televantos, senior partner at Arsenal, said: 'Leggett & Platt is committed to supporting the bedding industry for the long term. It is the ideal home for the business and its employees.'
Chris Chrisafides, CEO of Elite, added: 'We look forward to continuing the company's trajectory of innovation and growth under the Leggett & Platt organisation.'
Elite is headquartered in Nunan, Georgia. It operates 16 facilities across the US and its products are used by customers that operate in e-commerce, retail and as OEMs.