Arle Capital Partners Ltd. plans to sell Hilding Anders AB, the Swedish mattress-maker with operations in 40 countries, for as much as 10 billion kronor ($1.53 billion), a person familiar with the plans said.
The private equity firm, based in London, hired Deutsche Bank AG to advise it on a potential sale, said the person, who asked not to be identified as the plans are not public.
Arle, formerly known as Candover Partners Ltd., bought the Swedish company in 2006. Other shareholders include MezzVest and managers at Hilding Anders, according to information on Hilding Anders’s website. The company reported net sales of 7 billion kronor in 2011 and seeks to reach net sales of 9 billion kronor by 2015, according to information on its website.
Hilding Anders has made about 14 acquisitions since 2003, and has bought companies in Sweden, Denmark, Belgium, the U.K., Croatia, Russia and Malaysia. Created in 1939, the company has about 6,900 employees, mainly in Europe and Asia.
Officials at Deutsche Bank and Arle declined to comment. A representative of Hilding Anders didn’t immediately respond to a phone call seeking comment.
The story was previously reported by Swedish financial daily Dagens Industri.