WeBuyAnyCar owner BCA sold to Haversham Holdings for £1.2bn
British Car Owners (BCA) the company which owns online second-hand auto auction site WeBuyAnyCar.com has been snapped up by a London investment consortium for £1.2bn.
Haversham Holdings, an entity backed by investors including Invesco and Schroders will acquire the company from Clayton Dubilier & Rice.
The move comes months after BCA U-turned on its plan to float on the London Stock Exchange. The company, which is the second largest car auction site in Europe, boasts 19,000 sales annually since 2009.
David Novak, a partner at CDR, said of the sale, according to the Financial Times: “We are confident that the talented group of managers at the company, under the leadership of Avril Palmer-Baunack and the Haversham team, will continue to drive strong performance in the future.
The company had been in the hands of Clayton Dubilier & Rice since 2009.
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