November 11, 2011
J.W. Childs Announces IPO of Mattress Firm

We are pleased to announce the initial public offering of our portfolio company, Mattress Firm (the “Company”), a leading specialty retailer of mattresses and related bedding products in the United States. The initial public offering of MFRM (NASDAQ) priced at $19.00 per share and opened for trading on Friday, November 18, 2011. We did not sell any shares in the offering and maintain an ownership position of approximately 63% assuming the over-allotment is exercised. The average cost for J.W. Childs Equity Partners III, L.P. is $8.00 per share including the conversion of our July 2011 investment of $35 million.

The Company has the largest geographic footprint in the United States among multi-brand mattress retailers. Mattress Firm operates 695 company owned stores and 117 franchised stores in 64 markets across 25 states. Within the markets it serves, Mattress Firm is a highly recognized brand known for its broad selection, superior service, and compelling value proposition.

“Mattress Firm has experienced tremendous growth by leveraging its strong market share positions to drive comp store sales and by expanding its store base significantly through varied economic climates since our acquisition in 2007,” said Bill Watts, Chairman of Mattress Firm and Partner of J.W. Childs Associates. “We are very pleased to continue our association with Mattress Firm as a public company and we look forward to the company’s continued growth and success.”