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
Residential Care Home features 39 bedrooms is up for sale. The home had average occupancy of 83.9 per cent in the year to July 2022. Offers invited.
FREEHOLD
Offering marquee hire from small to large this business services mainly the events industry, its own smaller marquee competitors and occasional work directly with individuals. They can support parties and weddings through to corporate dinners, festiv...
LEASEHOLD
Offering high quality marquees with a wide range of sizes. This offers a huge amount of flexibility which allows the company to cater for whatever customers require, from a small marquee in the back garden, to a marquee village, or perhaps catering f...
LEASEHOLD
21
|
Mar
|
Honey and gin maker set to appoint administrators but hopeful of business sale | ADMINISTRATION
The British Honey Company (BHC), an Oxfordshire-based produc...
21
|
Mar
|
Mergers and acquisitions firm Langcliffe International becomes employee-owned | MBO/MBI
Langcliffe International, a leading buy-side mergers & acqui...
21
|
Mar
|
Screwfix acquires appliance retailer out of administration | ADMINISTRATION
Trade retailer Screwfix, a subsidiary of Kingfisher group, h...
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
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.