AXA to divest Spotless

AXA Private Equity is reportedly seeking to sell portfolio company The Spotless Group, a producer and distributer of homecare and cleaning products, with the price tag expected to be EUR700m. According to sources, Lazard has been mandated to find a buyer.

AXA PE created The Spotless Group in 2005. Since its inception, the company has completed seven bolt-on acquisitions, with the most recent being that of UK-based company Dylon International limited. Spotless, which has brands such as Eau Ecarlate, Eparcyl, Vigor and Javel Dose under its wing, currently employs 400 people and predicts a turnover of EUR370m in 2008.

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