BC Partners in talks to buy £400m Foxtons

European buyout firm BC Partners has entered exclusive talks with UK property firm Foxtons. BC Partners is believed to have fended off private equity rivals TA Associates and 3i to reach the talks alone.

BC Partners has entered into exclusive talks with UK estate agent Foxtons to buy the firm for £400 million ($796 million, €588 million), according to UK newspaper The Times.

 

The Foxtons mini: the estate agent’s branded car.

Jon Hunt, the agency founder, is thought to own around 90 percent of the firm.

Foxtons has been the subject of speculation over the last few months with both US buyout firm TA Associates and London-listed firm 3i thought to be interested in the company. 3i is believed to have pulled out of the bidding a fortnight ago.

US buyout firm Apollo Management recently bought UK property firm Countrywide for £1.1 billion at the beginning of this month after seeing off a dramatic last minute challenge from 3i.