Leggett & Platt, Incorporated to Somnigroup International Inc.

Deal Information

Target

Leggett & Platt, Incorporated

Acquiror

Somnigroup International Inc.

Sector

Home & Office Furnishings

Target Type

Public

Acquiror Type

Strategic

Advisors

JPMorgan

Enterprise Value

$2.5B

EV / LTM Sales

0.6x

EV / LTM EBITDA

6.6x

EV / Fwd EBITDA

Comparable transactions cited by the advisor, excluding the subject transaction.

FV / LTM EBITDA selected range: 5.0x - 9.0x

12 comps


Aug 2025	Steelcase Inc.	HNI Corporation	$2.4B	-	9.7x	-
Mar 2023	Kimball International, Inc.	HNI Corporation	$500M	-	10.1x	-
Jun 2022	Ergotron, Inc.	The Sterling Group, L.P.	$700M	-	8.4x	-
Apr 2021	Knoll, Inc.	Herman Miller, Inc.	$1.8B	-	14.2x	-
Nov 2024	TI Fluid Systems plc	Apollo Global Management, Inc.	$2.3B	-	5.5x	-
Feb 2022	Tenneco Inc.	Apollo Global Management, Inc.	$7.1B	-	4.9x	-
Nov 2018	Cooper-Standard Holdings Inc. (Anti-Vibration Systems business)	Continental Aktiengesellschaft	$300M	-	9.0x	-
Sep 2018	Magna International Inc. (Fluid Pressure & Controls business)	Hanon Systems Co., Ltd.	$1.2B	-	7.0x	-
Apr 2018	Federal-Mogul Corporation	Tenneco Inc.	$5.4B	-	7.2x	-
Aug 2017	Futuris Global Holdings, LLC	Adient PLC	$400M	-	7.0x	-
Nov 2016	Metaldyne Performance Group Inc.	American Axle & Manufacturing Holdings Inc.	$3.3B	-	6.5x	-
Aug 2016	Emerson Electric Co. (Motors, Drives and Electric Power Generation businesses)	Nidec Corporation	$1.2B	-	6.9x	-
	Mean			-	8.0x	-
	Median			-	7.1x	-

Discount rate and terminal value assumptions the advisor selected for its discounted cash flow analysis.

Advisor	WACC	Terminal method	Terminal assumption	Forecast basis	Forecast period	Filing
JPMorgan	7.75% – 9.75%	Perpetuity growth	0.5% – 1.5%	Leggett & Platt 2/26 Projections	fiscal years 2026 through 2030	Open