UPDATE: BC Partners Winner In Sale Of Axa's Spotless -Sources

BC Partners has bought home care cleaning products company Spotless Group from Axa Private Equity, people familiar with the situation said Tuesday.

Earlier Tuesday, people said the auction was down to a two-horse race between BC Partners and Lion Capital after other buyout firms including Bridgepoint didn't submit bids in the second round.

BC Partners is buying the 65% stake owned by Axa with the balance being held by management and other minority investors. The deal values the whole of Spotless Group at between EUR590 million and EUR600 million, one person told Dow Jones Newswires.

BC Partners has committed financing from a consortium of banks, another person added.

Axa bought Spotless for around EUR150 million in 2005. Since then the company, which is based near Paris, has more than doubled in size--buying up businesses in Italy, the U.K. and Ireland.

The buyout firm hired Lazard Ltd. (LAZ) several months ago to run an auction process, people said.

-By Marietta Cauchi, Dow Jones Newswires; +44 207 842 9241; marietta.cauchi@dowjones.com

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