BC Partners lines up €1bn Spotless exit


laundry_washingUK private equity group BC Partners is eyeing a potential sale for French household cleaning and laundry company Spotless Group for as much as €1bn, according to Les Echos.

The company has approximately €300m in revenue, with BC anticipating a valuation of at least 900m. The firm acquired the company in a secondary sale from Ardian, then AXA Private Equity, in 2010 for €580m.

Spotless was created following the acquisition of French laundry and home care products company Eau Ecarlate. AXA built the company up with six bolt-on acquisitions across Europe, including Guaber in Italy, Punch in Ireland, Citin in Holland, Eparcyl in France, Ballerina in Spain and Dylon in the UK.

Earlier this month BC was reported to be selling a 7.8 per cent stake in UK estate agents Foxtons, eight months after the company listed on the London Stock Exchange.

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