Hutton Collins has taken a 25.1 percent stake in Everest, a UK home improvement company, valuing it at £150 million (€222 million, $301 million).
The investment is part of a refinancing in which management has increased its stake from 11 to 25 percent. Entrepreneur Brian Kennedy has reduced his shareholding from 66 percent to 43 percent.
Everest provides replacement windows and doors, fitted kitchens, conservatories and other domestic products. Everest had a turnover of £140 million and profits of £16 million in the year ending October 2006.
A debt package of £100 million has been provided by HBoS.
The domestic space is popular with UK private equity. Earlier this month Rutland Partners bought Pulse Home Products for £51.5 million.
Hutton Collins has a stake in carpet company Interfloor. It is generally focussed on the leisure sector, recently exiting oyster bar Loch Fyne. It also has a stake in noodle bar Wagamama.