A group owned by the majority shareholder of Silentnight has acquired Sleepeezee – which has been a supplier to the Royal Family for more than 60 years.
The Kent-headquartered company has been snapped up by The Sleep Group, which is owned by H.I.G. Capital.
Sleepeezee has been acquired from France-based private equity company Perceva for an undisclosed sum.
The business first received a Royal Warrant from Queen Elizabeth II in 1963 and a second from the then Prince of Wales in 1985 and has held it ever since.
A Royal Warrant is a mark of recognition of those who have supplied goods or services to senior members of the Royal Family for at least five years.
Sleepeezee and Silentnight to work together
Steve Warren, Sleepeezee’s managing director, said: “2024 sees Sleepeezee celebrating our 100th year in the bed industry.
“We’re delighted to be joining the group at such a pivotal time and can’t wait to start delivering on our growth plans under new ownership for many more years to come.”
According to its most recently published set of financial accounts, for 2022, Sleepeezee made a turnover of £39m, up from £34.7m, while its pre-tax profits went from £368,126 to £360,565.
At the time it also employed just over 300 people.
Its next set of results, for 2023, are due to be filed with Companies House by the end of September this year.
Silentnight CEO Tracey Bamber added: “We’re delighted to welcome Sleepeezee to the group and look forward to moving forward together as two well respected distinct businesses in the UK market.”
In its most recently published accounts, Silentnight returned to profit for the first time since 2019.
The business achieved a pre-tax profit of £6.3m in the 12 months to January 28, 2023, compared to losses of £7.1m in the prior year.
The last time Silentnight made a pre-tax profit was the £8.6m it reported in the year to February 2, 2019. Since then its losses have totalled more than £9.2m.
The company’s turnover also increased from £112.1m to £114m.
During the year, the average number of people employed by the company increased from 723 to 735.