Investors Are Putting Their Money Into Mattresses.

The article reports that National Bedding Co., the controlling licensee of Serta International, the third-largest mattress manufacturer, has been purchased by the Ares Corporate Opportunities Fund LP in Los Angeles, the private-equity fund of Ares Management and Teachers' Private Capital, the private-equity arm of the Ontario Teachers' Pension Plan. Thomas H. Lee Equity Fund bought Simmons Bedding Co. in December 2003 and affiliates of Kohlberg Kravis Roberts & Co. acquired Sealy in April 2004.