By Max Clarke
Global Private Equity firm, BC Partners, has acquired all of mobile retailer Phones 4 U’s 550+ stores in a deal said to be worth £700 million.
This deal will add to the €68 billion BC Partners has invested in 74 companies since the firm’s inception in 1986.
In 2006 Phones 4 U’s parent company, Caudwell Group was acquired by private equity firms Providence Equity Partners and Doughty Hanson for a figure approaching £1.5 billion. Caudwell Group, then employing 8,000 worldwide, was dismantled but the Phones4U brand was expanded.
In mid 2006, the then 450 outlet strong mobile retailer paired with DSGi’ Currys’ electrical retailers to launch Phones 4 U at Currys.