GE Capital International Supports Hillarys’ Refi
European Capital announced that it and certain affiliates have completed a £113.5 million ($191.1 million) refinancing of their portfolio company, Hillarys, the UK’s leading made-to-measure supplier of domestic window coverings, and have used the proceeds, together with a further £5.5 million ($9.3 million) equity investment, to buy out minority investor, Permira Debt Managers.
The refinancing takes the form of term and revolving credit facilities provided by incumbent lenders GE Capital International, Ares Management and Permira Debt Managers.
“We are delighted with this positive refinancing of the Hillarys business and pleased that we have been able to meaningfully increase our equity participation,” said Giles Cheek, managing Director, European Buyouts. “With its unique business model, Hillarys continues to go from strength to strength and we look forward to continuing to partner with management and together delivering on exciting new growth opportunities.”