Leonard Green & Partners to acquire hot online retailer
The Shade Store is being acquired by a private equity giant in a deal that will boost its growing omnichannel footprint.
The retailer, known for its customized window treatments, has signed a definitive agreement to be acquired by Leonard Green & Partners. The Shade Store is being purchased from Great Hill Partners, which acquired a majority stake in the company in 2013, partnering with the retailer’s co-founders. Financial terms of the transaction were not disclosed.
Founded online in 2006, The Shade Store has grown to more than 60 showrooms nationwide, with a product line that includes shades, draperies and blinds. It offers a wide range of design services for consumers and the design trade, alike , from free swatches and free professional window measurements to photo rendering services and installation services. Customers can choose from more than 1,400 in-stock fabrics and exclusive materials from a range of brands.
"We set out to change the way people shop for the finest custom shades, blinds, and drapery by simplifying and bringing style to a complicated and time-consuming process without sacrificing quality," said Adam Gibbs, co-founder and CEO of The Shade Store, who will continue to lead the business with the existing management team. "We are expanding our vision nationally, and see tremendous opportunities to continue our growth by entering additional sales channels, launching brand extensions and expanding our strategy into adjacent categories.”
The transaction is subject to customary closing conditions, and is expected to close during the third quarter of 2018.
The retailer, known for its customized window treatments, has signed a definitive agreement to be acquired by Leonard Green & Partners. The Shade Store is being purchased from Great Hill Partners, which acquired a majority stake in the company in 2013, partnering with the retailer’s co-founders. Financial terms of the transaction were not disclosed.
Founded online in 2006, The Shade Store has grown to more than 60 showrooms nationwide, with a product line that includes shades, draperies and blinds. It offers a wide range of design services for consumers and the design trade, alike , from free swatches and free professional window measurements to photo rendering services and installation services. Customers can choose from more than 1,400 in-stock fabrics and exclusive materials from a range of brands.
"We set out to change the way people shop for the finest custom shades, blinds, and drapery by simplifying and bringing style to a complicated and time-consuming process without sacrificing quality," said Adam Gibbs, co-founder and CEO of The Shade Store, who will continue to lead the business with the existing management team. "We are expanding our vision nationally, and see tremendous opportunities to continue our growth by entering additional sales channels, launching brand extensions and expanding our strategy into adjacent categories.”
The transaction is subject to customary closing conditions, and is expected to close during the third quarter of 2018.