Brown Gibbons Lang & Company (BGL) is pleased to announce the sale of Perfect Fit, LLC, a portfolio company of The Anderson Group LLC, to Shanghai Shenda Co. Ltd., a Shanghai exchange listed public company, and its U.S. subsidiary, Cross River, LLC. BGL’s Consumer Products & Retail team served as the exclusive financial advisor to Perfect Fit in the transaction. The specific terms of the transaction were not disclosed.
Perfect Fit is a U.S.-based designer and supplier of innovative sleep and home health products with a rich heritage dating back to 1932. Perfect Fit is a market leader in all of its traditional product categories, specializing in innovative home textile and bedding products, including bed pillows; mattress pads and toppers; electric warming blankets, mattress pads, and accessories; unique craft yarn; and furniture covers. The Company’s products are sold under several well-known in-house brands that include Perfect Fit®, Tailor Fit®, Wellrest®, and Soft Heat®, as well as a variety of exclusive licensing agreements with iconic home textile and bedding brands, and private label arrangements. Perfect Fit is a holder of multiple design patents and proprietary technologies, including its low voltage warming technology, Clean and Fresh® odor elimination, and exclusive fit solutions across its bedding, warming, and furniture cover lines. Selling through leading mass merchants, department stores, specialty retailers, and online retailers, Perfect Fit has developed strong relationships by providing competitively priced products that meet retailers’ stringent design, cost, and quality requirements. Perfect Fit also provides unmatched customer service and category leadership. Light manufacturing, assembly, and sales facilities are strategically located throughout the U.S. in New Hampshire, North Carolina, California, and New York, and are coupled with offshore sourcing resources in Shanghai, China.
Shanghai Shenda operates in textile products import and export trading, textile products manufacturing, and property management. The company’s main products include apparel, fabrics, yarns, and industrial use textile products. Cross River and Perfect Fit will work closely together to exploit sourcing and sales channel synergies in the U.S. market for Shanghai Shenda. This was the first control acquisition for Shanghai Shenda in the United States.
Brown Gibbons Lang & Company is a leading independent investment bank serving the middle market. BGL specializes in mergers and acquisitions advisory services, debt and equity placements, financial restructuring advice, and valuations and fairness opinions, with global industry teams in Consumer Products & Retail Services, Environmental & Energy Services, Healthcare & Life Sciences, Human Capital Management Outsourcing, Industrials, and Real Estate. BGL has offices in Chicago and Cleveland and real estate offices in Chicago, Cleveland, Irvine, and San Antonio, in addition to Global M&A partner offices in more than 50 countries across 5 continents, which allows us to deliver to our clients unparalleled access to corporations, investors, and opportunities globally. For more information, please visit www.bglco.com.
Founded in 1985 and based in St. Petersburg, FL and Detroit, MI, The Anderson Group LLC is an operationally-focused private equity firm focused on acquiring control positions in niche manufacturing, distribution or service companies at the lower end of the middle market. Well versed in operationally-intensive manufacturing and distribution businesses, The Anderson Group professionals have considerable experience investing in underperforming or distressed businesses and seek to pursue only those transactions where operational and strategic insights can be leveraged to create significant capital appreciation. Investing the principals own committed capital for over thirty years, The Anderson Group is not burdened with a rigid, short-term return focus and has the freedom to make strategic decisions that position its portfolio companies for long-term success. More information concerning its principals, investment philosophy and portfolio companies is available at www.andersongroup.com.