We represented Helix Sleep, Inc. (Helix), a custom home furnishings and mattress company, in its sale to Cerberus Capital Management, L.P. (Cerberus), a global leader in alternative investing.
Brooklyn Bedding LLC, an American manufacturer of mattresses, was also acquired by Cerberus in this transaction.
Helix and Brooklyn Bedding are the first two business units of the new direct-to-consumer (DTC) mattress platform and will benefit from each other’s best-in-class manufacturing and digital capabilities. Together, customers will benefit from a broad portfolio of high-quality offerings and superior end-to-end experiences.
The team was led by Bass, Berry & Sims attorneys Allen Overby and Taylor Ashley and included corporate attorneys Stewart Day, Shay Ahmed and Whitney Burnley; Bryan Metcalf (tax); Luke Smith and William Sohn (antitrust); Caitlin Wilkinson (intellectual property); Curtis Fisher and Noah Black (employee benefits); Lymari Cromwell (labor and employment); Brian Irving (litigation); and Thad McBride (international trade).
“We are grateful for the opportunity to represent Helix in this transaction, which continues to build upon our firm’s experience in private equity-back deals in the manufacturing space,” said Overby.
The transaction was highlighted in several media outlets, including:
- “Cerberus to Acquire Brooklyn Bedding and Helix Sleep to Form a Leading DTC Mattress Platform,” Cerberus (September 13, 2021)
- “Cerberus to Acquire Brooklyn Bedding and Helix Sleep to Form a Leading DTC Mattress Platform,” BedTimes Magazine (September 13, 2021)
- “Cerberus to Acquire Brooklyn Bedding and Helix Sleep to Form a Leading DTC Mattress Platform,” AP News (September 13, 2021)
- “Cerberus to Acquire Brooklyn Bedding and Helix,” citybiz (September 13,2021)
Helix is an innovative direct-to-consumer brand platform, operating a portfolio of sleep and home goods brands. The company’s flagship brand, Helix Sleep, launched in 2015, aims to change the way people sleep by bringing customization to the category through individually personalized mattresses for you, based on how you sleep. Each mattress is designed to your body type, sleeping position, and feel preference using our proprietary sleep technology. Birch by Helix launched in 2019 as the company’s all-natural and sustainable sleep brand, with 100% organic certified products.
Bass, Berry & Sims has significant experience representing buyers and sellers in both public and private company strategic transactions, as well as extensive familiarity in structuring private equity acquisitions and financings. We have served as counsel to national, major middle-market private equity funds and portfolio companies in more than 100 transactions across a myriad of industries in the last two years. Our work has earned the firm recognition in national industry leading league tables and other outlets, including being ranked as #20 Most Active in U.S. Private Equity and #4 Most Active in Healthcare PE (Q2 Rankings, Pitchbook). Additionally, our team was honored by The M&A Advisor with several awards in the last five years, most recently with the Healthcare & Life Sciences Deal of the Year (Over $1B) and Corporate/Strategic Deal of the Year (Over $1B) in 2020. To learn more about our team, industry experience and value-add, click here.