Sealy Shareholder H Partners Demands Answers on KKR Fees

H Partners Management LLC, the second-largest shareholder of Sealy Corp., stepped up its confrontation with the mattress maker over its declining market value and payments to KKR & Co., its biggest investor.

H Partners, in a letter today to Sealy’s nominating and corporate governance committee, posed questions concerning what it called “the payment of millions of dollars in questionable fees to KKR.” The New York-based investment firm earlier this month proposed appointing a representative to the board and replacing three directors with KKR affiliation with new members, steps Sealy rejected.