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Irish Bed Company Purchased By Investment Group
An investment group set up by former IBI Corporate Finance chief has bought one of Ireland's biggest bedding manufacturers. FL Partners said it has completed the acquisition of Kayfoam Woolfson, which employs 270 people in Dublin and Kildare. No financial details of the deal were given.
FL Capital Partners, was established in September 2006 by Peter Crowley and former IBI director Neill Hughes, and this is the first transaction to be completed by the firm. Kayfoam supplies beds and mattresses to department stores and bedding shops in Ireland, England and the US. Neil Hughes of FL Partners said the company would be a long term investor in the business and would help it to grow substantially in the coming years, especially in the higher-end speciality sleep sector. The Woolfson family set up the company 100 years ago and will continue as shareholders.
Source: RTÉ News.
