Thursday, September 21, 2006
BCA goes under the hammer
UK auction giant British Car Auctions has been snapped up by a leading private equity house in a multi-million pound deal.
Montagu Private Equity has made an agreed offer to acquire all of BCA’s shares and is likely to complete the deal by the end of October. BCA operates out of 40 sites in 11 countries and generates proceeds of over £3bn from its auctions.
Montagu director, Wiet Stokhuyzen, said: “We look forward to investing in further growth, particularly in Europe where BCA has developed a strong position.” BCA’s senior management team is to remain on board with the firm.
DATED: 21.09.06
FEED: MT
Montagu Private Equity has made an agreed offer to acquire all of BCA’s shares and is likely to complete the deal by the end of October. BCA operates out of 40 sites in 11 countries and generates proceeds of over £3bn from its auctions.
Montagu director, Wiet Stokhuyzen, said: “We look forward to investing in further growth, particularly in Europe where BCA has developed a strong position.” BCA’s senior management team is to remain on board with the firm.
DATED: 21.09.06
FEED: MT
