The Capitoline Products building adjacent to Richard B. Russell Regional Airport has been sold and will become the home to Heritage Sleep Concepts, a local mattress manufacturer.
The purchaser is officially listed as Crew Investments Inc. which agreed to acquire the 120,000-square-foot building for $2,425,000.
Frankie Beck, COO for Heritage, said the five-generation family business serves retail outlets in Georgia, Alabama, Tennessee, Kentucky, the Carolinas and panhandle of Florida.
“We’ve grown a lot more than we expected to,” Beck said.
Toles, Temple & Wright Real Estate represented both the seller and the buyer in the deal, which takes the largest available industrial building in Floyd County out of the inventory.
Heritage Sleep Concepts dates back 90 years, where in Cedartown it began as Sanford Mattress Co.
According to their website, Terry and Glenda Spears, the son-in-law and daughter of the founder, started Spears Mattress Co. and moved the company to Rome.
Spears was the was the original licensee of Englander Sleep products in 1986 and grew to be the largest independent mattress manufacturer in the southeast. Beck said that at one point, the company was turning out 1,700 mattresses a day in Rome.
The company was sold to a private equity firm in 2008. A half dozen years later, Terry Spears met with the president and CEO of Eastman House and Eclipse after which he agreed with family members to form Heritage Sleep Concepts LLC which began manufacturing the brands of Eastman House and Eclipse in 2015.
Beck, who is Spears’ son-in-law, said once people found out that Terry Spears was back in the business, the phone started ringing.
“It’s a great building and I think they’ll be real happy there,” said Heather Seckman, economic development director at the Rome Floyd Chamber.
Beck said renovations to the building would start next week and the company was working to develop a plan so that equipment could be moved in phases so as to create as little disruption to manufacturing as was possible.
The company expects to add “quite a few more jobs,” Beck said, to the existing workforce of between 40 and 50 employees.
The loss of the building from Floyd County’s industrial inventory makes it all the more important to make properties like the 110 acre tract at Ga. 53 and Georgia 140 look as attractive and shovel-ready as possible, Seckman said.