New York, NY September 13, 2019 – Centre Lane Partners, LLC (“Centre Lane”), a New York based private investment firm, is pleased to announce that an entity affiliated with Centre Lane has completed the acquisition of certain assets of Hollander Sleep Products, LLC and its affiliates, which had filed for Chapter 11 protection under the U.S. bankruptcy code in May 2019. An affiliate of Centre Lane served as the stalking horse bidder during the dual-track reorganization plan and sale process. With this transaction and recapitalization, the new company (“Hollander” or the “Company”) is well-positioned as a strong platform with leading market positions and an outstanding customer base. Going forward, the Company plans to leverage its quality and innovation to continue to build upon its strong reputation as a dependable supplier and leader in the space.
Hollander is a leading designer, manufacturer, and marketer of pillows, comforters, cushions, mattress pads, and other basic bedding products in North America. The Company is headquartered in Boca Raton, Florida and employs over 2,000 people, with multiple manufacturing facilities across the United States and Canada. The Company traces its roots back to 1953 with a long and successful history in the basic bedding category. Currently, Hollander sells its products (a collection of proprietary and licensed brands) through a variety of retail distributors and multiple e-commerce channels. Hollander has built and maintained strong, long-standing relationships with its customers and license partners.
Mayank Singh, a Managing Director of Centre Lane, stated: “We are extremely excited to have the opportunity to acquire Hollander. Hollander is a leading North American manufacturer and widely recognized for its product quality, customer service, and product innovation. With its history and know-how, the Company plays an important role and is uniquely positioned to supply the basic bedding and pillow categories. We are committed to our customers and are focused on technology enhancement, manufacturing excellence, and operational improvements. We also look forward to providing the Company with the resources and capital necessary to capitalize on the opportunities ahead.”
Centre Lane was advised by Thompson Hine LLP and Crowe LLP. The sellers were advised by Kirkland & Ellis LLP, Carl Marks Advisors and Houlihan Lokey Capital, Inc.
About Centre Lane
Centre Lane is a private investment firm focused on providing private equity and private debt capital to North American middle-market companies. Founded in 2007, Centre Lane brings thoughtful, flexible capital solutions and operational know-how to companies and complex situations in the middle market. For more information, visit https://centrelanepartners.com.
Hollander is a leading designer, manufacturer, and marketer of pillows, comforters, cushions, mattress pads, and other basic bedding products in North America. Founded in 1953, Hollander employs over 2,000 people. The Company is headquartered in Boca Raton, with multiple manufacturing facilities across the United States and Canada. Hollander owns and manufactures bedding products under its proprietary and licensed brands. For more information, visit https://www.hollander.com/.