Park Place Corporate Finance

Independent advice for the independently minded

Hillarys

£115m Secondary Management Buy-Out

Hillarys

Hillarys is the UK’s market leader in assembly and sale of blinds, selling approximately 10,000 units per week.  

The business was family owned until 2001, when the Hillary family exited in a management buy out backed by Close Brothers private equity.  When Close Brothers decided to exit, the business was sold in an auction process involving a number of private equity and trade buyers.

PPCF was appointed by the management team to advise on the secondary buy out.  The value of their management stake and their importance to the business made this role pivotal.  We advised the management both on the selection of an appropriate equity partner and on structuring the transaction, which resulted in management partially exiting and partially rolling over to take a significant minority stake in Newco, alongside Change Capital Partners.

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