Fleet News

BRS Auctions denies takeover speculation

BRS Car Auctions has denied renewed speculation that it is a takeover target for acquisitive auction group ICA/CMA despite closing one of its auction centres and losing its general manager. ICA/CMA was widely believed to be in the bidding for BRS when distribution group NFC sold its leasing subsidiary, BRS Car Lease, to GE Capital Fleet Services in an attempt to divest itself of non-core businesses.

BRS Car Auctions is to close its Stoke Auction Centre at the end of the month and former general manager Jonathan Holland has re-emerged as director of manufacturer operations at ICA/CMA.

Managing director of holding company BRS Vehicle Management Mike Dawson said the Stoke centre had been losing money for some time, but denied rumours that it was negotiating the sale of its Coventry centre to ICA/CMA. 'We couldn't run two auction houses profitably, but we believe we can run one,' said Dawson. An ICA/CMA spokesman declined to comment on the speculation.

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