BCA Marketplace has successfully joined the London Stock exchange following the auction house’s acquisition by London investment consortium Haversham Holdings for £1.2bn at the end of March.
On March 26 the Haversham’s acquisition of BCA was formally announced. At the time, Avril Palmer-Baunack, executive chairman of Haversham said: "The acquisition of BCA represents an important strategic step for Haversham into the automotive sector. BCA is a market-leading business with a unique position in the used vehicle marketplace.
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"Haversham’s management team sees exciting growth opportunities in the changing European used vehicle market and plans to refresh BCA’s strategy to enhance its strong growth record. We would like to thank our existing and new shareholders for their strong support and look forward to working with the management team at BCA to create long-term value."
That acquisition came just over half a year after rumours sufficed that BCA was planning to list. The company decided against listing in October 2014. 2014 also saw the company make a series of acquisitions, including Tradeouts and Autos on Show.
The acquisition was funded through the placing of 685.7m shares at 150p per Haversham share to raise £1,028.5m, and a new £200m term loan.
The acquisitions also saw the newly created entity named BCA Marketplace.
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By GlobalDataAt the time of writing, BCA Auctions were being traded on the London Stock Exchange for 156.00p
