Hillarys Blinds

Sector: Consumer & Retail

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.

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