We are pleased to announce the recent completion by our portfolio company, Mattress Firm Holding Corp. (NASDAQ: MFRM), of a public offering of 5.4 million shares at a price of $29.85 per share. The offering price represents a 57% premium to the November 2011 IPO price and is 3.5x the partnership’s average cost per share of $8.43. Houston-based Mattress Firm is the nation’s leading mattress specialty retailer, offering a broad selection of both traditional and specialty mattresses, bedding accessories and related products
Affiliates of J.W. Childs sold 2.1 million shares (representing approximately 10.5% of our ownership) in the offering for total net proceeds of $60.6 million. Following the completion of the sale, J.W. Childs and affiliates continue to own 18.1 million shares of MFRM representing approximately 54% of the outstanding common stock.
About J.W. Childs Associates:
J.W. Childs is a Boston-based private equity firm focused on investing in middle market growth companies. Since its inception in 1995, J.W. Childs has invested more than $3 billion of equity capital in 41 platform companies including Advantage Sales & Marketing, Bass Pro Shops, Beltone Electronics, Brookstone, CHG Healthcare, Esselte, Joseph Abboud, Meow Mix, NutraSweet, Pinnacle Foods, Sunny Delight, The Tile Shop and W/S Packaging. For more information, visit www.jwchilds.com