August 9, 2018

Text: Mark McMenamin

The Shade Store to Be Acquired by Leonard Green & Partners

The Shade Store’s 60-plus stores are slated to be acquired by Leonard Green & Partners. Photo courtesy of The Shade Store.

Private equity investment firm Leonard Green & Partners has signed a definitive agreement to acquire The Shade Store from Great Hill Partners, which acquired a majority stake in the family-run custom window treatment retailer in 2013, in partnership with company cofounders Adam Gibbs, Ian Gibbs, Greg Spatz and Zach Gibbs.

“We are expanding our vision nationally, and we see tremendous opportunities to continue our growth,” says CEO Adam Gibbs, who will continue to lead the chain’s existing management team. Specifically, Gibbs foresees “entering additional sales channels, launching brand extensions, and expanding our strategy into adjacent categories.”

Jonathan Adler’s Vionnet pattern in Peppercorn from the designer’s exclusive line of polyester roller shades for The Shade Store. Photo courtesy of The Shade Store.

Kris Galashan, partner at Leonard Green & Partners, adds, “We are thrilled to invest and partner with the management team as they continue building this outstanding franchise.”

Terms of the deal, which is expected to close during the third quarter of 2018, were not disclosed. But published reports estimate the value of the transaction at approximately $325 million.

Pendleton by Sunbrella adapts the iconic apparel and home brand’s rugged aesthetic to high-performance acrylic in an exclusive collection for The Shade Store. Photo courtesy of The Shade Store.

The Shade Store currently operates more than 60 showrooms nationwide, offering more than 1,400 in-stock fabrics and exclusive collections from brands such as Kravet and Sunbrella, and designers including Nate Berkus and Jonathan Adler.

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