Feeds

Phones4U sold on again

BC Partners makes the call

The essential guide to IT transformation

Mobe retailer Phones4U has been bought by BC Partners from its previous private equity owners.

The 500-strong chain was sold by founder John Caudwell, along with his B2B business, to Providence Equity for £1.46bn in 2006.

Phones4U claims £900m in sales for last year, up 20 per cent on 2009. Iy has 6,000 staff and claims one in four smartphone contracts sold on the High Street are signed in its shops.

The official statement did not give a price but the Press Association reckons it could be up to £700m.

BC Partners, or rather "investment funds advised by...", said: "Phones4U is ideally positioned to benefit from further strong growth in the smartphone market, as technological innovation and product evolution continues."

Phones4U claims a special relationship with younger consumers.

BC Partners, which also owns Fitness First gyms, manages over €10bn in funds in Europe and the US. It remains best known for its pre-slump purchase of much-loved estate agents Foxtons in 2007.

The deal, which needs regulator approval, should close in April 2011. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
Déjà vu: Virgin Media jacks up broadband prices
Screw copper phone lines, we're UNIQUE, bleats telco
NBN Co claims 96 mbps download speeds for FTTN trial
Umina trial also delivers 30 mbps uploads, but exact rig used not revealed
UK fuzz want PINCODES on ALL mobile phones
Met Police calls for mandatory passwords on all new mobes
Netflix swallows yet another bitter pill, inks peering deal with TWC
Net neutrality crusader once again pays up for priority access
New Sprint CEO says he will lower axe on staff – but prices come first
'Very disruptive' new rates to be revealed next week
EE: STILL Blighty's best mobe network, says 'Frappucino' Moore
Fresh round of network stats fisticuffs possibly on the cards here
US TV stations bowl sueball directly at FCC's spectrum mega-sale
Broadcasters upset about coverage and cost as they shift up and down the dials
Google's so smart it's discovered SHARKS HAVE TEETH
Congratulations, world media, for rediscovering submarine cable armour
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
7 Elements of Radically Simple OS Migration
Avoid the typical headaches of OS migration during your next project by learning about 7 elements of radically simple OS migration.
BYOD's dark side: Data protection
An endpoint data protection solution that adds value to the user and the organization so it can protect itself from data loss as well as leverage corporate data.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?