Fleet News

NCA gears up for market flotation

NATIONAL Car Auctions is gearing up for a stock market flotation within the next two years. The company announced its intention to float at the time of its management buyout from Unigate in 1995 for an undisclosed sum, and feels the time is now right after three years of good growth and solid results. As a result NCA has recruited John Thompson from Deloitte & Touche to be its new finance director, replacing Keith Fisherwood who has become operations director.

Laurie Leader, NCA managing director, said: 'We are under no pressure to go for a listing, but it's something we have always envisaged.' He added that the flotation would give NCA additional funds for expansion and acquisition when the right opportunities arose.

It is unclear how the City will value the company, and with no other auction companies listed on the stock exchange it is virtually impossible to hazard an estimate.

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