Leading South East law firm, Thomson Snell & Passmore, has advised the shareholders of Tropical Blinds Limited in relation to the sale of their shares to Mzuri Group.
Tropical Blinds, established in 1978 by founder Martin Fells, is now one of the largest trade only windows and blinds suppliers in the UK. Over the last 40 years, Tropical Blinds has grown to become a significant player in the UK window blind industry, known in particular for its made-to-measure portfolio including key shutter brands such as ‘Austin’ and ‘Dulwich’.
The Mzuri Group, based in Lisburn, Northern Ireland, owns Decora Blind Systems and TCMM Shutter Group, is backed by the Business Growth Fund (BGF). Mzuri has made a number of acquisitions since BGF’s investment in April 2020.
The transaction team at Thomson Snell & Passmore was led by Partner and Head of Corporate, Joanne Gallagher, assisted by Partner, Faye Cook. Due to the nature of the transaction, the deal necessitated a wider project team which included Joanne Wright and Caroline Cohen advising on the Property aspects, Ben Stepney on Employment, Nitzan Cohen advising on Tax and Mathew Boyle on Pensions.
Following the acquisition, Martin Fells will be retiring from Tropical Blinds with Arron Zimmatore appointed to Managing Director. Angela Uttridge and Vicky Gayle will remain Directors within the business. The company will maintain its headquarters in Sidcup, Kent and will continue to operate independently to provide customers with the same high-quality products they have come to expect.
Russell Dickson, Commercial Director for Mzuri comments: “Martin has made an enormous contribution to our industry throughout the last 42 years and we wish him well in his retirement. Bringing Arron, Angela and Vicky into the Group is a great addition to our team. They have a vast amount of experience and we know they will continue to be successful as part of Mzuri.”
Arron Zimmatore, Managing Director at Tropical Blinds said:
“We are delighted that Tropical Blinds has been incorporated into the Mzuri Holdings Group of companies. After more than 40 years of trading as an independent business, we are pleased to be joining a parent company that fully supports our methods of working and individual approach to the window blinds market.
“Thomson Snell & Passmore guided this transaction with incredible competence, patience and understanding in what was an intricate sale. The dynamic team of Partners and associates all played their part to ensure our best interests were protected while working hard towards closing the deal. We have nothing but respect and appreciation for the diligent work of Thomson Snell & Passmore.”
Joanne Gallagher and Faye Cook added: “We are absolutely delighted to have acted on this transaction and achieve a successful outcome for all those involved. We wish Arron, Angela and Vicky all the best in their new venture with Mzuri Group, and Martin a very long and happy retirement.”