The combination of Intellibed and Purple will create tremendous synergies, a leader in both the value and luxury gel segments, and consolidate gel production IP under one roof.
SALT LAKE CITY, UT, 09/01/2022 – Harrison Co., an investment banking firm dedicated to advising founder- and family-led businesses in the home goods sector, today announced it advised Intellibed (the “Company”), a premium sleep, health, and wellness company, on its merger with Purple Innovation (NASDAQ: PRPL).
Intellibed is a science-backed comfort-technology company focused on improving people’s lives through better sleep. Initially developed for and used by the medical community in hospital beds to relieve pressure points for chronically immobile patients, Intellibed has expanded to become a comprehensive, technology-driven wellness company. Intellibed’ s innovative products have helped the Company become the largest premium domestic gel mattress manufacturer, and the only Company focused on the fast-growing luxury gel mattress segment.
“Bill, Shaun and the entire Harrison Co. team stood by us every step of the way through a long, complicated process,” said Scott Peterson, Intellibed’s Chairman and CFO. “This was clearly more than just a transaction for the Harrison Co. team, they were partners that became an extension of our team. I’ve worked with many top-tier financial professionals over my 30 years at Ernst & Young and the Harrison Co. team exceeded my high expectations. As a result of the merger and my belief in the tremendous synergies, I am now a longer-term shareholder of Purple. I am extremely excited about the future of the merged entity and what the combined companies can achieve together.”
Shaun Kalnasy, Harrison Co. Partner commented, “We are honored to have worked with Scott; Bob Rasmussen – Founder, Colin House – CEO, Brett Peterson – VP of Strategy, and the entire Intellibed team. The combination of Intellibed and Purple will create tremendous synergies, a leader in both the value and luxury gel segments, and consolidate gel production IP under one roof.” Bill Harrison, Harrison Co. Managing Partner added, “Intellibed is an industry disruptor and category creator, and now combined with Purple, the undisputed leader in the gel mattress category. We look forward to following the success of the Company as it continues to innovate and deliver unique comfort solutions to its customers.”
Intellibed is a premium sleep and health wellness company, offering science-backed comfort-technology products to improve people’s lives through better sleep. The Company is the largest premium domestic gel mattress manufacturer, and the only focused on the fast-growing luxury
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Harrison Co. partners are unwavering champions of the family- and founder-led business. Harrison Co. works exclusively with families and founders across the entire spectrum of home goods, apparel, eCommerce, digitally native brands, and healthy lifestyles. The team of experienced senior financial experts helps clients make critical strategic business, mergers, acquisitions, and financing decisions to ensure optimal outcomes. Harrison Co. prides itself on providing highly personal, customized service to its valued clients from its offices located in Salt Lake City, Los Angeles, San Francisco, Fresno, and Denver.
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