UK - BC Partners wins £400m auction for Foxtons

It is understood that BC Partners has reached exclusivity in its bid to acquire estate agency chain Foxtons. The deal values the primarily London-focussed agency at £400m. In a process run by Credit Suisse, BC Partners beat off competition from other interested parties including 3i and TA Associates. The deal represents an exit for founder Jon Hunt who opened his first office in 1981.