Arsenal launches Elite Comfort Solutions
Arsenal Capital Partners said Monday that it made a majority investment in Elite Foam Inc and agreed to buy the foam production assets of Hickory Springs Manufacturing Company (HSM Foam). Financial terms weren’t announced. Newnan, Georgia-based Elite Foam develops and makes specialty foam for the bedding and home furnishings industry. Conover, North Carolina-based HSM Foam produces flexible polyurethane foam for furniture, bedding, medical and packaging market applications. Arsenal, in March, also invested in Pacific Urethanes, a producer of specialty polyurethane foam materials. Arsenal said it is combining Elite Foam, HSM Foam and Pacific Urethanes to form Elite Comfort Solutions, a specialty foam platform with a network of 10 production facilities.
