Consumer & Retail

Hillarys Blinds

Headquartered in Nottingham, Hillarys is the leading and largest player in the UK window coverings market. The product offering includes: blinds, shutters, awnings, conservatory blinds and curtains, which the company sells directly via an extensive nationwide network of advisors.

November 2014
Investment Date
UK
Country

Business Overview

  • Clear #1 player in UK made-to measure blinds market
  • Additional product lines including: shutters, awnings, curtains
  • No store network
  • Products sold directly via advisors paid on commission
  • Three UK manufacturing sites employing c.1,000 people

 

Investment Thesis

  • Comprehensive knowledge of the business
  • Market leadership position
  • Compelling business model
  • Highly flexible cost base
  • Strong cashflow and deleveraging profile
  • Proven and dedicated management team

 

Origination

  • Direct origination
  • Strong relationship with management team and sponsor
  • Transaction executed as a small club deal (3 lenders)

www.hillarys.co.uk