Somnigroup completed the acquisition of a minority stake in Kingsdown from Novacap.

Somnigroup, a bedding company, completed the acquisition of a minority stake in Kingsdown, a bedding manufacturer, from Novacap, a private equity firm. Financial terms were not disclosed. “Somnigroup’s investment represents a powerful endorsement of Kingsdown’s Style & Substance brand and our proven ability to scale the artistry and innovation that have defined our company for over 120 years. As a passive investor, Somnigroup’s confidence in Kingsdown underscores the strength of our business model, our leadership team and our growth trajectory,” Frank Hood, Kingsdown CEO.