May, 2011
GLP advises BC Partners on the acquisition of Phones4u

LONDON (5 May 2011): Global Leisure Partners LLP ("GLP") is pleased to announce that it acted as financial advisor to BC Partners on the acquisition of Phones4u from Providence Private Equity for  £677m. The transaction successfully closed last week.

Phones4u is the leading independent multi-channel mobile phone distributor among the youth market in the UK and the largest provider of mobile phone insurance in the UK.  The company has a portfolio of over 500 stores, strong online distribution, employs approximately 6,000 people, and achieved sales of over £900m in 2010. With its strong and trusted brand, Phones4u is ideally positioned to benefit from further strong growth in the smartphone market, as technological innovation and product evolution continue.

Mervyn Metcalf, Managing Director of GLP, commented:

"We are delighted to have assisted the BC Partners team throughout the process and believe the transaction delivers an excellent result for both BC Partners and the vendors and partners the company with a new owner well-suited to support the next phase of growth. For GLP, this represents our second successfully completed competitive buy-side advisory transaction in the last six months."

Mark Harms, CEO of GLP, commented:

"The Phones4u transaction is our second successful deal with BC Partners, bolstering our position as one of the market leading advisors to financial sponsors in the consumer and leisure sectors."

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