Fri, 27 Mar 2015 | BUSINESS SALE
The owner of the second-hand motor firm webuyanycar.com, famous for its TV adverts, has been sold to a listed investor for £1.2 billion.
Listed investment fund Haversham Holdings acquired BCA, formerly British Car Auctions, in a deal signed off yesterday (26 March). It is still however subject to shareholder approval. Involved in the deal was a £1.03 billion equity fundraiser, giving the business a market capitalisation upon initial public offering (IPO) or around £1.17 billion.
BCA agreed the deal after cancelling a planned floatation on the London Stock Exchange just months ago.
US private equity firm Clayton Dubilier & Rice has owned BCA since 2010. BCA's head office is situated in Farnham, Surrey.
David Novak, a partner at Clayton Dubilier & Rice said: “We are confident that the talented group of managers at the company ... will continue to drive strong performance.”
Avril Palmer-Baunack, executive chairman of Haversham, added: "The acquisition of BCA represents an important strategic step for Haversham into the automotive sector. BCA is a market-leading business with a unique position in the used vehicle marketplace.”
She concluded that Haversham saw a huge potential for expansion in the used car market and it would be bringing an updated strategy to BCA in order to boost growth.
______________________________________________________________________
Related information:
Search our latest businesses for sale
Provides an extensive range of coffee machinery, which is imported from Italy and Spain, and coffee products, which are sourced within the UK. Offers invited.
FREEHOLD
One of the UK's leading end-to-end service providers. Comprehensive export handling, packing and storage services, providing specialist cargo and goods management to a wide variety of international operations and private clients. 40+ years of success...
Food Service Businesses: Fish & Chip Shops. Established, high turnover traditional Fish and Chip and hot food takeaway operating from busy parade location, Bath. Offers invited.
LEASEHOLD
|
24
|
|
Jan
|
Yorkshire engineering firm completes MBO deal | MBO/MBI
A West Yorkshire engineering group has been taken over by th...
|
22
|
|
Jan
|
Jewellery retailer enters administration | ADMINISTRATION
A Nottingham-based jewellery and watches company has fallen ...
|
19
|
|
Jan
|
Luxury lodging group enters administration | ADMINISTRATION
An Essex-based company which operates eight luxury lodge par...
Sign up to receive our acquisition alert emails to get your FREE guide
|
05
|
|
Jun
|
Rentokil in talks to sell office maintenance business | DIVISION SALE
Rentokil Initial is in talks to sell its office maintenance ...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources