Weil Aids Advent With Stake In $3B Serta, Simmons Parent

Law360, New York (August 6, 2012, 4:48 PM EDT) -- Buyout company Advent International Corp. has picked up a majority share of AOT Bedding Super Holdings, the parent of mattress manufacturing giants Serta and Atlanta-based Simmons Bedding Co., from its private equity owners, Advent announced Sunday — in a deal that reportedly values AOT at $3 billion.

The deal leaves the former owners, Ares Management LLC and the Ontario Teachers' Pension Plan, with “significant” but undisclosed equity stakes, according to a statement. The companies did not disclose financial details or other terms of the deal, but...
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