Hillarys, a supplier of made-to-measure blinds, was sold by Change Capital Partners LLP. European Capital now owns 52% of the business.
The investment comprises equity, loan notes, mezzanine debt and senior term loans. Hillarys management also invested in the deal.
“We are delighted that European Capital is investing in Hillarys,” said John Risman, Hillarys’ CEO. “European Capital quickly understood the strengths of the business and the numerous avenues for growth and assembled an unbeatable finance package.”
Hillarys, which was founded in 1971, supplies roman, venetian, roller and vertical blinds. The Nottingham-based company employs more than 1,000 permanent staff, with a team of more than 900 self-employed sales advisers.
This is the seventh secondary buy-out backed by Paris-based European Capital and the fourth led by its London office.