Fleet News

BCA sold to Montagu

REMARKETING giant BCA has been bought in a deal worth hundreds of millions of pounds.

Montagu Private Equity is acquiring all of the shares of the company, with the price put at £450 million, including debt.

BCA is owned by private shareholders and conditions, including competition clearance, are expected to be completed by the end of October.

BCA operates out of 40 sites in 11 countries and generates gross auction proceeds of £3.3 billion per annum.

Jon Olsen, CEO of BCA, said: ‘We are pleased Montagu has acquired the business. Our customers should be reassured we are committed to continuing the highest levels of service and intend to continue to invest in and to develop BCA. The senior management team is fully committed to staying with the business, to build on the success we have already achieved.’

The new owner said it looked forward to investing in growth.

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