BCA Marketplace has acquired car auction services group SMA Vehicle Remarketing for £43 million.
The figure includes the repayment of existing debt, which BCA has funded through its existing cash resources.
SMA posted earnings of £4.7m for the year to the end of October 2014 (before interest, taxation, depreciation and amortisation), on revenue of £37.2m.
BCA has increased its existing £200m term loan to £275m, as well as a £100m revolving credit facility – resulting in total facilities of £375m.
Avril Palmer-Baunack, executive chairman of BCA said: "We are delighted to have completed this value-accretive acquisition so soon after listing BCA and to be delivering on our previously stated intention to pursue both organic and non-organic routes to accelerate growth of the auction exchange and support services. We welcome the SMA management team led by Bob Anderson to the BCA Group and look forward to working with them to continue to provide a pre-eminent service to our buyers and vendors".
SMA Vehicle Remarketing is a UK independent car auction company with centres in Edinburgh, Kinross, Leeds, Newcastle and Birmingham.
j m clark - 05/06/2015 12:39
bca is afull of thier own importance we only hope they have made abig mistake buying sma many scoyyish dealers willnot supportto big for thier boots bca