Webuyanycar.com owner British Car Auctions sold for £1.2bn

 
Emma Haslett
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BCA was thought to be valued at £1bn (Source: BCA)

The company formerly known as British Car Auctions (now known as BCA), the parent behind those ubiquitous, irritating webuyanycar.com ads, has been sold for £1.2bn, it was confirmed today.

BCA was sold to listed investment fund Haversham, which is backed by City fund houses including Aviva, Schroders, Inveso and Artemis. It had been thought to be valued at about £1bn.

The company had originally explored an IPO, but cancelled plans after a period of skittishness on the markets.

Today David Novak, a partner at US private equity firm Clayton Dubilier & Rice, which sold BCA, said:

We are confident that the talented group of managers at the company... will continue to drive strong performance.

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