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BC Partners to sell Spotless to Henkel
Funds advised by European private equity firm, BC Partners, have reached an agreement to sell Spotless Group SAS to Henkel AG & Co. KGaA for an enterprise value of €940 million. Completion is subject to approval from European antitrust authorities.
Based in Paris, France, Spotless is a pan-European manufacturer of pest control and laundry products and has subsidiary operations in Ireland, Sweden, Hungary, United Kingdom, France, Spain, Italy and the Netherlands, employing more than 400 people.
Since April 2010, Spotless' management team, under the ownership of funds advised by BC Partners, has accelerated the transformation of the company to build a leading European player, in particular via strategic acquisitions in insect control. BC Partners has also initiated an ambitious investment plan in the brand's platform to support organic growth while increasing the strategic value of the company.
"This transaction acknowledges the achievement of the company's strategic goal consisting in building a European champion in laundry aids and insect control," says Jean-Baptiste Wautier, Managing Partner at BC Partners.
"Spotless is now entering a new phase of its development and has an exciting potential for future profitable growth within Henkel."
18th September 2014