UK-BASED private equity group BC Partners yesterday bought Spotless, the French maker of laundry and cleaner products, in a deal valuing the company at €600m (£523.2m).
BC Partners is buying the 65 per cent stake owned by Axa Private Equity with the balance being held by management and other minority investors.
Axa bought Spotless for around €150m in 2005. Since then the company, which is based near Paris, has more than doubled in size.
The buyout firm hired Lazard to run the auction process for Spotless.