Fleet News

NCA taken over by ICA Holdings

NATIONAL Car Auctions has been bought by Independent Car Auctions (Holdings) to create a formidable rival to British Car Auctions. ICA Holdings already operated 10 auction centres through ICA, which it owned completely, and through Central Motor Auctions, in which it has a controlling shareholding.

The acquisition of NCA, for an undisclosed sum, gives ICA/CMA an extra seven locations. This takes its network to 17 sites, compared to rival BCA's 23 UK auction centres. ICA (Holdings) - half owned by the Bailey family, and half by US auction giant Manheim Auctions - has pulled off a series of bold purchases in recent months, including two of BRS Auctions' sites at Stoke and Coventry, and 64% of CMA.

John Bailey, head of the enlarged group, said: 'We made no secret of the fact that our intention was to break BCA's dominance of the UK market. And now we have taken a significant step towards fulfilling our promise to the market.'

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