Travers Smith LLP has advised the management team of Dreams on its c.£340 million acquisition by Tempur Sealy International, Inc. (Tempur) from Sun Capital Partners, Inc. (Sun Capital).
With 2,000 employees across the UK, Dreams sells mattresses, bases and headboards to customers nationwide through its network of over 200 stores and through its online presence.
Following the acquisition, Dreams will continue to be led by the current management team.
The transaction is expected to close in the third quarter of 2021, subject to receipt of regulatory approval from the Financial Conduct Authority.
The Travers Smith team was led by Corporate M&A and ECM Partner Mohammed Senouci supported by Associates Ella Sharpley and Gavin White. The team also included Tax Partner Jessica Kemp and Associate Katherine Williamson, Incentives & Remuneration Senior Counsel Elissavet Grout, and Employment Senior Associate Katy Carr and Associate Tom Hunt.
Cleary Gottlieb Steen & Hamilton LLP advised Tempur. Kirkland & Ellis LLP advised Sun Capital.