Sealy Corporation (NYSE: ZZ) is a major mattress manufacturer. The New York Stock Exchange ( NYSE) is a Stock exchange based in New York City. A mattress is a mat or pad usually placed atop a Bed, upon which to sleep or lie Manufacturing (from Latin manu factura, "making by hand" is the use of tools and labor to make things for use or sale The company draws its name from the city where it started, Sealy, Texas. Sealy is a city in Austin County, Texas, United States, within the Houston-Sugar Land-Baytown Metropolitan Area.
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History
In 1881, cotton gin builder Daniel Haynes began making cotton-filled mattresses for his friends and neighbors. Year 1881 ( MDCCCLXXXI) was a Common year starting on Saturday (link will display the full calendar of the Gregorian calendar (or a Common Daniel Lewis "Danny" Haynes (born 19 January 1988 in Peckham, England) is an English footballer, who plays as In 1889, he patented an invention that compressed cotton for use in his mattresses. Year 1889 ( MDCCCLXXXIX) was a Common year starting on Tuesday (link will display the full calendar of the Gregorian calendar (or a Common A patent is a set of Exclusive rights granted by a State to an inventor or his assignee for a fixed period of time in exchange for a disclosure of an Eventually the mattresses became so popular he was able to sell the patents to manufactures in other markets. The term "Mattress from Sealy" was coined to describe what was produced.
During 1906, after much success as an advertising executive, Earl Edwards purchased the patents and gained manufacturing knowledge from Haynes. Edwards took the name "Sealy" for his new company and expanded it to a national market.
Due to lack of funding for manufacturing, Sealy expanded using a licensing-expansion similar to Coca-Cola. Franchising refers to the methods of practicing and using another person's Philosophy of business. Coca-Cola is a carbonated Soft drink sold in stores restaurants and Vending machines in more than 200 countries By 1920, Sealy had 28 licensed plants and became the first mattress company to expand using a licensing program. Year 1920 ( MCMXX) was a Leap year starting on Thursday (link will display 1920 of the Gregorian calendar
During the Great Depression the mattress industry was hit hard. Sealy lost most of its licensees and narrowly escaped bankruptcy itself. Bankruptcy is a legally declared inability or impairment of ability of an individual or organization to pay their Creditors Creditors may file a bankruptcy petition against During this time Sealy consolidated with the surviving licensees and created what is now know as "Sealy, Incorporated"
Sealy was made private in April of 1989 by a leveraged buyout. Year 1989 ( MCMLXXXIX) was a Common year starting on Sunday (link displays 1989 Gregorian calendar) A leveraged buyout (or LBO, or highly-leveraged transaction (HLT or "bootstrap" transaction occurs when a Financial sponsor acquires a controlling interest First Boston made a bridge loan to the buy-out firm just as Drexel Burnham Lambert was running into trouble and the junk bond market was drying up, and was stuck with the loan; this led to a dramatic slow-down in leveraged buy-outs. First Boston Corporation was a New York-based Investment bank, founded in 1932 and acquired by Credit Suisse in 1988 when it became 'CS First Boston' Drexel Burnham Lambert was a major Wall Street Investment banking firm which first rose to prominence and then was driven into bankruptcy in February 1990 by its [1]
Bain Capital and a team of Sealy's senior executives acquired the company in 1997. Bain Capital LLC is a Boston -based Private equity firm founded in 1984 by partners from the consulting firm Bain & Company. Year 1997 ( MCMXCVII) was a Common year starting on Wednesday (link will display full 1997 Gregorian calendar The Company has operated as a privately held corporation until 2006. Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar.
Sealy's corporate headquarters are located in Trinity, NC. Trinity is a city in Randolph County, North Carolina, United States. According the Sealy's website, they are the largest manufacturer of mattresses in the world. Sealy sells the majority of its mattresses under its 3 main brands; Sealy Posturepedic, Stearns & Foster, and Bassett. Sealy background information
Overseas markets
There are licensees operating in Australia, Bahamas, Israel, Jamaica, Japan, New Zealand, South Africa, Thailand and the United Kingdom. For a topic outline on this subject see List of basic Australia topics. The Bahamas, officially the Commonwealth of The Bahamas, is an independent sovereign English -speaking country consisting of two thousand Cays and For a topic outline on this subject see List of basic Israel topics. Jamaica (ˈdʒəˈmeɪkə} is an Island nation of the Greater Antilles, in length and as much as in width situated in the Caribbean Sea. For a topic outline on this subject see List of basic Japan topics. New Zealand is an Island country in the south-western Pacific Ocean comprising two main landmasses (the North Island and the South Island The Republic of South Africa (also known by other official names) is a country located at the southern tip of the continent of Africa The Kingdom of Thailand (ˈtaɪlænd ราชอาณาจักรไทย, râːtɕʰa-ʔaːnaːtɕɑ̀k-tʰɑj The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom, the UK or Britain,is a Sovereign state located
In 1995, direct export business began to South Korea. Year 1995 ( MCMXCV) was a Common year starting on Sunday. Events of 1995 South Korea, officially the Republic of Korea and often referred to as Korea ( Korean: 대한민국 tɛː
In 1996, Sealy began manufacturing and selling in Mexico. Year 1996 ( MCMXCVI) was a Leap year starting on Monday (link will display full 1996 Gregorian calendar) The United Mexican States ( or commonly Mexico (ˈmɛksɪkoʊ () is a federal constitutional Republic in North America.
Sources
| Major North American mattress manufacturers |
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Comfortaire - Dorel - King Koil - Restonic - Sealy - Select Comfort - Serta - Simmons - Spring Air - Tempur-Pedic - Therm-a-Rest - Leggett & Platt |
References
A mattress is a mat or pad usually placed atop a Bed, upon which to sleep or lie Dorel Industries Inc ( and) is a Montreal Quebec -based company which designs and manufactures for three areas juvenile home furnishings and recreational/leisure King Koil is a United States -based brand of Mattresses and bedding with 60 factories in 40 countries operated by independent licensees. Restonic was founded in 1938 as the Triple Cushion Corporation and took the Restonic name in 1946 Select Comfort ( is a US-based manufacturer that bills itself as "the leading U Serta is a company that specializes in making Mattresses It was founded in 1931 by 13 mattress manufacturers who licensed the Serta name and now eight independent Simmons Bedding Company is a major manufacturer of Mattresses and related bedding products Spring Air Company is a Mattress company based in the United States. Tempur-Pedic International Inc manufactures and distributes mattresses and pillows made from TEMPUR material Therm-a-Rest is a trademarked name for a line of self-inflating Camping Mattresses They were invented in the early 1970s by two former Boeing engineers Leggett & Platt (L&P ( is a Fortune 500 diversified Manufacturer that conceives designs and produces a broad variety of engineered components and products that Events 363 - Roman Emperor Julian moves from Antioch with an army of 90000 to attack the Sassanid Empire, in a Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century.Dapyx Software network: MP3 Explorer | Ebook Manager | Zenithic