Webuyanycar.com owner sold to listed investor

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


Share this article



Latest Businesses for Sale

Provider of Coffee Machines & Related Products
South East, UK

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.

Asking Price: Offers Invited
Turnover: £1,000,060

FREEHOLD


International Export Services
North West, UK

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...

Asking Price: Offers Invited
Turnover: £1,300,000

South Down Fish Bar
Bath, South West, UK

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.

Asking Price: £190,000
Turnover: £338,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
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...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
05
 
Jun
 

Rentokil in talks to sell office maintenance business | DIVISION SALE

Rentokil Initial is in talks to sell its office maintenance ...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources