Deal Detail

Sealy Corporation to Kohlberg Kravis Roberts & Co. L.P.

EV / LTM EBITDA

8.8x

EV / LTM Sales

Enterprise Value

$1.4B

Primary Source

Perella Weinberg

Comparable Transactions

Home & Office Furnishings transactions announced in the five years to March 2004. 4 with a disclosed multiple.

Date	Target	Acquiror	Enterprise Value	EV/Sales	EV/EBITDA	Type
Nov 2003	Simmons Company	Thomas H. Lee Partners	$1.0B	-	10.9x	Financial
Nov 2002	Aero Products International, Inc.	Investcorp Bank B.S.C.	$232M	-	7.5x	Financial
Oct 2002	Tempur-Pedic International Inc.	TA Associates Inc.	$390M	-	6.8x	Financial
Jun 2000	Crescent Sleep Products Company	Sleepmaster L.L.C.	$127M	-	13.6x	Financial
	Mean			-	9.7x
	Median			-	9.2x

Source-specific multiples and notes for this transaction.

Comp	Primary?	Source Type	Source	Source Advisor	Source Year	EV (USD)	EV/Sales	EV/EBITDA	EV/Fwd EBITDA	Note	Citation
	Primary	fairness opinion	ZZ FO	Perella Weinberg	2013	$1.4B	-	8.8x	-	A PRIOR Sealy buyout, distinct from the 2012 Tempur-Pedic acquisition. Cited within the Sealy/Tempur-Pedic fairness opinion itself, Perella Weinberg table.	Open
	-	fairness opinion	ZZ FO	Citi	2013	-	-	8.7x	-	A PRIOR Sealy buyout, distinct from the 2012 Tempur-Pedic acquisition. Cited within the Sealy/Tempur-Pedic fairness opinion itself, Citigroup table — close agreement with Perella Weinberg (8.7x vs 8.8x). Also independently cited (no EV/multiple, dated 6 Apr 2004) in the Mattress Firm/Steinhoff fairness opinion (Barclays); that citation is out of scope for this resolution pass and remains unlinked.	Open