Beter Bed Holding and Torqx Capital Partners agree on recommended all-cash offer
Torqx Capital Partners is pleased to announce that it has reached a conditional agreement with Beter Bed Holding on an intended recommended all-cash public offer for 100% of the shares in Beter Bed Holding with an offer price of EUR 6.10 per share, representing a significant premium of approximately 107% to Beter Bed’s closing price per share on 7 July 2023 of EUR 2.95.
Torqx and Beter Bed Holding strongly believe that private ownership will be instrumental to Beter Bed’s continued success during the next phase of its development and shall be beneficial for all stakeholders. It will allow Beter Bed management to fully focus on the long-term strategic plan and accelerate both organic and in-organic growth of the company.
Harmen Geerts, Managing Partner & Chief Investment Officer of Torqx Capital Partners: “Beter Bed has a robust strategy in place with the right components for growth and long-term success. We recognize the quality and commitment of the management team, having a clear vision where to steer the company, combined with strong execution skills.”
After settlement Torqx will become majority shareholder. Three long-term and dedicated shareholders in Beter Bed Holding – Navitas Capital, Teslin Participaties Coöperatief UA and investor De Engh B.V. – will re-invest in the company after successful completion of the offer.
Based on the required steps and subject to the necessary approvals, Torqx and Beter Bed Holding anticipate that the offer will close ultimately beginning of 2024.
The joint press release announcing the public offer for Beter Bed Holding can be found on our website.