In a move that is expected to close during the third quarter of 2018, The Shade Store will be acquired by Leonard Green & Partners for an undisclosed amount. The Port Chester, New York–based window treatment company is being purchased from Great Hill Partners, which had acquired a majority stake five years ago, teaming up with the company’s co-founders, Adam Gibbs, Ian Gibbs, Greg Spatz and Zach Gibbs.
The Shade Store was founded in 2006 and today has 60-plus U.S. showrooms, and a number of partnerships with brands including Aerin, RH, Kravet, Jonathan Adler and others.
“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. And, of course, we will remain focused on delivering quality, value and service to our customers.”
“Adam and the entire team at The Shade Store have built an impressive business with considerable runway to continue growing by delivering unsurpassed value to custom window treatment customers,” said Kris Galashan, partner at Leonard Green & Partners. “We are thrilled to invest and partner with the management team as they continue building this outstanding franchise.”
“We have enjoyed an outstanding partnership with Adam, the other co-founders and the entire Shade Store management team, supporting the company’s evolution into the leading retailer of custom window treatments nationwide,” said Peter Garran, partner at Great Hill Partners. “The business has added 50 additional showrooms since our investment, and continued its unmatched omni-channel approach with a tireless focus on service that had previously been lacking in the window treatment market.”
Michael Kumin, managing partner at Great Hill Partners, added: “We would like to thank Adam and the team for their outstanding execution and dedication to building and growing The Shade Store into the leader it is today. We believe The Shade Store is well-positioned to continue to offer unparalleled products, services and customer experience that will extend its history of success into this next phase of its story.”