Airsprung acquisition of Collins and Hayes




Bed manufacturer Airsprung has acquired the upholstered furnishings manufacturer Collins & Hayes Furniture for £2.3 million.


Bed manufacturer Airsprung has acquired the upholstered furnishings manufacturer Collins & Hayes Furniture for £2.3 million.

Bed manufacturer Airsprung has acquired the upholstered furnishings manufacturer Collins & Hayes Furniture for £2.3 million.

Collins & Hayes managing director Martin Huggins and finance director David Backler will remain with the business along with 158 employees.



The acquisition comprises an initial sum of £2.3 million, followed by a deferred performance-related payment of up to £250,000, and is to be funded by a four-year revolving credit facility of £2.5 million provided by the Swedish bank Svenska Handelsbanken.

Wiltshire-based Airsprung produces beds and mattresses, trading under its brands Gainsborough Beds, Hush and Airsprung Beds. The AIM-listed company also operates in the upholstered furniture market through its Lancashire-based subsidiary, Cavendish Upholstery.

Collins & Hayes produces made-to-order upholstered furniture, which is sold through department stores and independent retailers including Harrods and Selfridges. In the year to April 2010, the East Sussex-based company declared a pre-tax profit of £387,400 on a turnover of £9.8 million.

Nick Britton

Lexus Ernser

Nick was the Managing Editor for growthbusiness.co.uk when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary...

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