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Investcorp acquires Aero Products

US-based Trivest Partners has sold its stake in airbed manufacturer Aero Products in a secondary buyout transaction. Global firm Investcorp has acquired the company for an undisclosed sum.

Trivest invested in the company in June 2001. A bank group that included CIBC World Markets, Banque National de Paris, LaSalle Bank, Antares Capital Corporation and Indosuez Capital financed the transaction. Equity for the acquisition came from Trivest Fund III, as well as other investors.

Steve Puccinelli, a member of Investcorp’s management committee, said: “Over the past several years, Aero Products has achieved significant growth and strong cash flow generation. The company is led by an extremely talented management team and has proven itself to be an extraordinary innovator of products that meet a range of bedding and leisure needs.”

Today Aero has a leading position in its core bed category, competing in the alternative bedding, primary bedding and sporting goods markets. Puccinelli believes the business has significant growth potential, particularly in new international markets.

Investcorp is a global investment group with offices in New York, London and Bahrain. The firm has four lines of business: corporate investment, real estate investment, asset management and technology investment. It was established in 1982 and has since completed transactions with an aggregate value of around $20 billion.