Birch Hill's Sleep Country Canada bumps up IPO raise to $300 mln
Sleep Country Canada Holdings Inc, a portfolio company of Canadian private equity firm Birch Hill Equity Partners and other investors, has filed a final prospectus for its initial public offering. The company plans to issue 17.65 million shares at $17 per share to raise gross proceeds of over $300 million. That's up from the $250 million cited in prior reports. An over-allotment option granted to underwriters could give Sleep Country as much as $345 million. Birch Hill and other existing investors are expected to continue to hold most of the interest in the Toronto-based mattress retailer following the IPO's close. As reported by peHUB Canada in June, another Birch Hill portfolio company, Shred-it International, has also filed to go public.
