Home interiors group clinches financial backing after boardroom shake-up

A Trafford Park-based home interior design business has secured a tailored Unitranche financing package from Salford-based Shawbrook to fuel its growth strategy.

The Bespoke Home Interior Design group (BHID), designs, develops, manufactures and installs bespoke home solutions through its three consumer brands in the high-end interiors market – Tom Howley, Neville Johnson and London Door Company.

The company has more than 30 years’ experience in the industry, and is owned by Alcuin Capital PE house.

Both Alcuin Capital and BDO, the debt adviser, have strong existing relationships with Shawbrook, having worked on several deals together.

This existing relationship, along with Shawbrook’s ability to provide flexible terms and deliver a bespoke package to an agreed timeline, is what led BHID to choose Shawbrook for the deal, it said.

The deal itself includes a significant flexible Unitranche facility and will support an ownership restructure.

With some shareholders stepping back from the business, this will allow for redistribution of the company’s shares among new management and help incentivise growth.

Gareth Aylward, BHID Group CFO, said: “This deal was a bit trickier because of the recent ownership change.

“We needed a lender who could understand the long game, not just the numbers on a page. Shawbrook saw the potential in our vision, and built a financing solution that perfectly fits our unique needs.”

Nick Seaman, Partner at Alcuin, said: “The bespoke package was exactly what we needed, and we look forward to a continued partnership as BHID grows.”

Ciaran Flanagan, Director, Private Equity at Shawbrook, said: “We’re pleased to have collaborated with the teams at BHID, Alcuin Capital, and BDO to bring this deal to fruition. Our existing relationships with both Alcuin and BDO, combined with their proactive approach, streamlined the process.

“This is one of several successful collaborations we’ve had with them, and we look forward to continuing the partnership.

“BHID’s position as an industry leader is well established, and the flexible terms agreed upon will equip their management team, both new and existing, with the tools to optimise their ownership structure. This, in turn, will fuel further growth for BHID. We’re excited to support them in their continued success.”

A team from Addelshaw Goddard, led by Alex Dumphy, acted as legal advisor to Shawbrook and BDO provided advisory services for Alcuin and BHID Group.