Hillarys sold for £300m
Hillarys, the Nottingham blind manufacturer, has been sold to Dutch rival Hunter Douglas in a deal worth £300m.
Hunter Douglas is buying Hillarys from Ares Capital. The firm says that Hillarys will remain a standalone business and its current management team will stay in place.
Hillarys’ management team has transformed the company from a single product proposition focused on window blinds, to the UK market leader in made to measure blinds, shutters, curtains and recently launched a new business in flooring.
Hillarys, established in Nottingham in 1971, employs over 1,300 people over three sites, two in Nottingham and one in Washington Tyne & Wear and has a network of over 1,000 self-employed advisors who provide an in-home service, selling and installing core and specialist products.
Hillarys chief executive John Risman, said: “This opportunity allows us to accelerate our plans for growth and provide an even more compelling customer experience for all of our customers.
“We are delighted that Hunter Douglas has bought in to our portfolio of strong brands and our team.
“We are excited to be working with such a dynamic company with their expertise across all aspects of the window furnishing business. This makes them ideally placed to support Hillarys’ growth strategy and expansion in the coming years.”
David and Marko Sonnenberg, co-rresidents and chief exectuives of Hunter Douglas, said: “We are delighted to have Hillarys join the Hunter Douglas family of companies, adding a strong brand and value offer, as well as an exceptional management team.”
KPMG’s Midlands team advised Hillarys on the deal.
Richard Peberdy, partner and head of KPMG’s deal advisory practice in the Midlands, said: “This transaction reflects demand from international buyers for high-quality, strategic assets that provide future growth and synergy opportunities. The deal also demonstrates that the Midlands has high quality businesses with proven resilience.”
The PwC Corporate Finance team acted as M&A advisor to Ares Capital Corporation and was led by Neil Sutton. PwC’s Tax team led by Nick Tilley also provided tax services to the management team.
Sutton said: “It was great to support John and the management team on a successful sale which will position the business for continued growth. Hillarys is a great success story of a UK business which has gone from strength to strength. This is an exciting time for the business following the investment by Hunter Douglas and and we wish them every success.”