AXA Private Equity has increased its stake in Spotless Group, the leader in the European home care
market, and now holds 65.6% of the Group’s equity.
Spotless Group was created by AXA Private Equity in 2005 with the aim of helping local and successful businesses with strong brands to expand their potential and reach out to consumers across Europe. Spotless has continued to outperform its market, achieving 8% like-for-like growth in 2008, in line with business plan.
AXA Private Equity has purchased 50% from the Gualandi family, which has been a shareholder since
2006. The family will retain a 12.6% minority interest, with the Group’s management team retaining a
16% equity stake and European Capital retaining a 5.8% stake.
Philippe Poletti, Managing Director LBO Mid Cap for AXA Private Equity, said: “With this transaction,
AXA Private Equity demonstrates our full confidence in Spotless Group’s potential for future growth and our commitment as a long-term investor”.
Indeed, the investor is increasing its stake in Spotless in order to provide it with the funds necessary to
underpin its future growth.
Since AXA Private Equity’s original investment in 2005, Spotless has quadrupled in size to €370 million of predicted revenues in 2008. Spotless has completed seven acquisitions, consisting of Eau Ecarlate in 2005, Guaber and Punch in 2006, Citin, Eparcyl and Ballerina in 2007, and Dylon in 2008.
About AXA Private Equity
AXA Private Equity (www.axaprivateequity.com), an AXA Investment Managers company, is a leading private equity house with $25bn of assets under management and international reach across Europe, North America and Asia.
The firm provides investors with funds across the full range of private equity offerings: direct funds -
infrastructure; LBO mid cap and small cap; venture capital; co-investments; funds of funds - primary,
early secondary and secondary; and mezzanine. With offices in Paris, Frankfurt, London, Milan, Zurich, Vienna, New York and Singapore, AXA Private Equity offers company management commitment to long-term growth by providing access to its international offices. Investors rely on the firm’s regular, comprehensive feedback on performance and portfolio companies.
AXA Private equity Press Contacts
Flore Larger, flarger@image7.fr +33.1.53.70.74.25
About Spotless Group (www.spotlessgroup.eu)
Since 2005, Spotless Group has completed strategic 7 acquisitions becoming the European market leader in home care products. The group has 400 employees at its 8 European subsidiaries and expects to post 2008 revenues of €370 million.
AXA Private Equity created Spotless Group in 2005 to bring together several European companies with strong local brands and boost growth in Europe.
List of advisors and parties involved in the transaction
1. Buyer
AXA Private Equity: Philippe Poletti, Yann Bak
- Legal advisors: Linklaters (Vincent Ponsonnaille, Alexis Aronio de Romblay)
2. Sellers
Gualandi family
- Legal advisors: Cabinet Bonelli, Erede Pappalardo (Stefano Micheli) and Cabinet Bredin Prat (Eric Grangeon)