British Car Auction has attracted bids from a clutch of private equity groups that are expected to submit final offers next month valuing Europe’s biggest vehicle reselling network at between £400m ($670m) and £500m. Bridgepoint, Cinven, BC Partners and Clayton Dubilier & Rice are all expected to reach the second round of bidding for BCA, which sells more than 12,000 vehicles a week at physical and internet auctions. CD&R, the US buy-out fund, may have an edge in the auction as it owns Hertz, the car rental group, which uses BCA to sell its older vehicles when it renews its fleet.

This entry was posted by Gwen Robinson on Wednesday, November 11th, 2009 at 4:48 and is filed under Capital markets, M&A, Private equity. Tagged with BC, bridgepoint, British Car Auction, cinven, clayton dubilier & rice. Edit this entry.