Lisburn-based blinds firm Mzuri Group acquires Shuttercraft
MZURI Group in Lisburn, one of the leading companies in the window blinds industry and the holding company of Decora Blind Systems, has completed the acquisition of Shuttercraft, which has its headquarters at Winchester in Hampshire.
Shuttercraft employs 49 people and will continue to operate independently under current management. The terms of the deal were not disclosed.
Mzuri Group, helped by a BGF investment of £10 million in 2020, has been on an aggressive growth strategy in recent times, with the acquisition of six companies before Shuttercraft, including the TCMM Shutter Group, one of the UK's largest interior wood shutter distributors, last year.
The most recently published set of accounts for Mzuri - which employs close to 1,500 staff - revealed that turnover rose to £109.4 million and pre-tax profits came in at £6.4m.
John Davison, chair of the Mzuri Board, said: “Shuttercraft has a well-established team with an ethos built on the pillar of having a customer centric approach.
“This focus has secured the company's reputation for offering unparalleled customer service, training, and support throughout the UK trade.
“The progressive and forward-thinking perspective of the Senior team within Shuttercraft merges perfectly with the Mzuri mind set.”
Marcus Moir, chairman of Shuttercraft, said: “We're delighted to be joining the Mzuri Group, as the strategic and cultural fit between the two businesses is excellent.
“With Mzuri's backing, we look forward to continuing to invest in the development of our business for the benefit of our valued partners and numerous other stakeholders.
“The transaction will provide an exit for our founders and for Beechbrook Capital, who we would like to thank for their guidance and steadfast support throughout the recent pandemic and for their financial backing since the MBO in December 2018.”
Mark Stradling (chief executive), Justin Allen (chief operations officer) and Anna Vallis (chief financial officer) will continue to lead Shuttercraft into the next chapter in its growth and development.