H.I.G. Capital, a global alternative investment firm with $45 billion of equity capital under management, completed its acquisition of Pegasus Home Fashions.
Founded in 1990 and headquartered in Elizabeth, NJ, Pegasus Home Fashions is a poly-filled pillow manufacturer with several manufacturing facilities located throughout the United States.
“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 organization to enable it to successfully capitalize on its many growth opportunities,” Todd Ofenloch, managing director at H.I.G. Capital, said.
“Partnering with H.I.G. allows us to continue our rapid growth and find creative ways to better service our retail partners,” Carmine Spinella, founder of Pegasus Home Fashions, said. “We are excited to have H.I.G. as an investor during this next phase of our growth.”
Pegasus Home Fashions’ existing management team will continue to run the business going forward. MidCap Advisors acted as financial advisor to Pegasus Home Fashions, and Brown Moskowitz & Kallen acted as legal counsel to the company on the transaction. Latham & Watkins provided legal advice to H.I.G. Capital.
