AXA Private Equity doubles the size of Eau Ecarlate following its acquisition of Guaber Household. Paris, 13th September 2006.

AXA Private Equity and the Gualandi family decided to make one of their assets in household and linen cleaning products. Spotless Group, the holding of the Eau Ecarlate group, owned by AXA Private Equity and management, has bought a 100% stake in Guaber Household’s capital, the Italian household cleaning products subsidiary of Guaber Spa, owned by the Gualandi family.

The Gualandi family, far from a withdrawal, has reinvested a significant amount of its gains in this project via Guaber Spa. Detaining 27% of the capital of Spotless Group, Guaber Spa now is the number 2 stakeholder after AXA Private Equity, who today holds 53% of the new group. The management team, now enhanced by the arrival of the Italian managers, has maintained its share of the capital at 13%.

The outcome of this operation for Spotless Group which was sealed on September 12, 2006, should give rise to an annual revenue figure reaching beyond 220 M€. Thanks to this transaction, the group – now present in 5 European countries – will be able to accelerate the rhythm of its international development and reinforce its position in its core business sector, the cleaning and care products niche for household and linen.

This also enables the group to increase its portfolio of brands: Eau Ecarlate, Vigor, Vu and Allume Vite are now in the company of Grey, Vim, Coloreria Italiana, Fito and Dueci.

Vitale & Associati has been the financial adviser of the Gualandi Family in this operation.

List of participants and Advisers taking part in the Eau Ecarlate Transaction

Buyer:

AXA Private Equity: Philippe Poletti, Béatrice Beitmann, Yann Bak

Advisers to AXA Private Equity:

• Legal advice: Gianni, Origoni, Grippo &Partners / Linklaters
• Gianni, Origoni, Grippo &Partners: Alessandro Giuliani, Fabio Del Bene, Valentina Dragoni, Spartaco Rossi
• Linklaters: Vincent Ponsonnaille, Edouard Chapellier, Nathalie Hobbs

Due-diligence:

• Commercial: Bain (Alberto Regazzo, Francesca Cremoli, Selima Ayoub, Stéphane Baleston)
• Financial: PwC Spa (Carlo de Vilas, Emanuela Pettèno)
• Legal: Gianni, Origoni, Grippo & Partners

Sellers:

Gualandi Family

Advisers to the sellers:

Legal Advice: Bonelli Erede Pappalardo (Umberto Nicodano), Bredin Prat (Eric Grangeon, Florent Mazeron)

M&A Advice: Vitale Associati (Alberto Gennarini, Massimo Insalaco)

Press Contact:

AXA Private Equity
+33 1 44 45 92 20