An affiliate of HIG Capital (HIG), a global alternative investment firm with USD45 billion of equity capital under management, has completed the acquisition of Pegasus Home Fashions (Pegasus).

Founded in 1990 and headquartered in Elizabeth, NJ, Pegasus is one of the country’s largest and fastest growing poly-filled pillow manufacturers with several manufacturing facilities located throughout the United States. The company has a broad portfolio of licensed, private label, and proprietary brands and currently services blue chip customers within the mass-market, warehouse club, and specialty channels. Pegasus is poised for continued growth from expanding its portfolio of company-owned and licensed brands, establishing new and growing its existing customer relationships and channels, and pursuing strategic add-on acquisitions within new and existing product categories.

“We are extremely excited to have the opportunity to work with the Pegasus team. Carmine and Gail Spinella have built an exceptional business and we look forward to providing the resources to the organisation to enable it to successfully capitalise on its many growth opportunities,” says Todd Ofenloch, Managing Director at HIG.

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Source: Private Equity Wire