European Capital has announced the EUR 337m secondary buyout of Hillarys Blinds, a provider of made-to-measure blinds, from Change Capital Partners. The firm provided equity, loan notes, mezzanine debt and senior term loans, to complete the one stop buyout. The management of Hillarys Blinds invested in equity and loan notes. Following the deal, European Capital owns 52% of the business on a fully-diluted basis. Founded in 1971, Hillarys is headquartered in Nottingham and employs over 1000 people, and also has a team of 900 self-employed sales advisors.
High-net-worth individuals and family offices are hunting for yield, concerned about low interest rates and market volatility
Fund expects to hit its target in the first quarter of 2020 and has already made six investments
Soprome and BTC Capital also back the takeover of the security services company
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