Sun European Partners buys Dreams
Sun European Partners has acquired UK-based bed retailer Dreams from administrator Ernst & Young.
The deal, thought to be valued at around £35m, includes 171 Dream stores, the firm's head office, its two UK manufacturing facilities and its supply chain network. The remaining 93 stores will remain in administration.
Previous funding
Exponent Private Equity bought Dreams in 2008 in an MBO valued at around £200m. Axa Private Equity provided mezzanine to support the transaction while the company's owner retained a non-controlling stake in the firm. Last year, Exponent invested a further £20m in Dreams to refinance the company's debt.
Company
Founded in 1985 and based in High Wycombe, Dreams is a bed and mattress retailer. The firm's product offering includes divans, mattresses and bedsteads, alongside furniture products and bedding.
People
Jordan Wadsworth is vice president at Sun European Partners.
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