BCA, Britain and Europe’s largest vehicle auction group, could be put up for sale by owners Montagu Private Equity. The group, which bought BCA three years ago from a consortium of investors, is believed to have stamped a £600 million price tag on the organisation. If sold at that price it would represent a £150m profit for Montagu.
The private equity firm has hired UBS to consider options for the future of BCA and if the ‘for sale’ sign officially goes up potential buyers could include rival private equity houses.
In the latest set of accounts filed at Companies House, BCA reported a pre-tax profit of £42.5m in 2007, up 15 per cent from the year before driven by double digit growth in Europe.
BCA has physical and electronic auctions operating out of around 40 sites in 13 countries, generating sales of £3.3 billion. It has 21 sites in the UK.
Source: Daily Telegraph