Corporation Zedbed International Inc. acquired by Owen & Company Limited

Corporate Finance case study

Client: 

Corporation Zedbed International Inc.

Solution: 

Corporate Finance

Services:

Financial advisory

Overview

PwC Corporate Finance acted as financial advisor to the shareholders of Corporation Zedbed International Inc. (“Zedbed”), a Canadian mattress manufacturer, on the sale to Owen & Company Limited (“Kingsdown Canada”), a leading Canadian mattress manufacturer, ultimately owned by Novacap.

Challenge

Our team had worked with Zedbed’s owners in the past and knew that they had succession issues.

Solution

In June 2017, we initiated the discussion with Zedbed’s owners about the potential sale of the Company. PwC was aware that Novacap had purchase Kingsdown in June, and that they were looking for adds-on to their platform. We started an exclusive but well positioned approach with Kingsdown Canada.

Result

The transaction closed on February 8, 2018. Many synergies will be realized following the transaction. The transaction will enable Kingsdown Canada to push Zedbed’s foam products through its national distribution channel and vice-versa, pushing its products into Zedbed’s distribution channel.

As part of the final deal structure, two of the three owners of Zedbed reinvested in Kingsdown Canada and will continue to manage Zedbed operations.
 

“For us, this transaction represents a great opportunity to take our company to the next level and further develop the North American market,” says Mario Gélinas, Zedbed’s President. “We already know that we have great products, and our new partnership with Kingsdown Canada and Novacap will allow us to grow even faster than before.”

Novacap, Press Release, Owen & Company (“Kingsdown Canada”) Completes the Strategic Acquisition of Zedbed, February 13, 2018.

Let’s get to work

To learn more about PwC’s Corporate Finance Services, and how we can help your organization, please contact:

  • Maxime Detraux, Partner
  • Dominique Normand, VP
  • Frédérik Leclerc, Senior Associate

Contact us

Maxime Detraux
Director
Tel: +1 418 691 2438
Email