Error parsing XSLT file: \xslt\FacebookOpenGraph.xslt BCA acquires SMA Vehicle Remarketing in £43m deal
Cookies on Businesscar

We use cookies to ensure that we give you the best experience on our website. If you continue without changing your settings, we will assume that you are happy to receive all cookies on the Business Car website. However, if you would like to, you can change your cookies at any time

BusinessCar magazine website email Awards mobile

The start point for the best source of fleet information

BCA acquires SMA Vehicle Remarketing in £43m deal

Date: 02 June 2015   |   Author:

UK auction giant BCA Marketplace has acquired SMA Vehicle Remarketing for £43 million.

The deal includes the acquisition of SMA's physical auction sites in Kinross, Edinburgh, Birmingham, Newcastle and Leeds offering sales for cars, light and heavy commercial vehicles.

SMA recorded revenue of £37.2 million and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of £4.7 million in the year ended 31 October 2014.

BCA's acquisition price of £43m includes the repayment of SMA's existing debt, which has been settled in cash through BCA's existing resources and the company's revolving credit facility.

Avril Palmer-Baunack, executive chairman of BCA, said she was pleased the company was able to make a value adding acqusition so soon after listing on the stock market.

She said the company is already delivering on its previously stated intention to pursue both organic and non-organic routes to accelerate the company's growth.

She said: "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."

BCA has also successfully syndicated its existing £200m term loan and £100m revolving credit facility. The firm now has total funding facilities of £375m "in order to provide additional headroom for future projects".

BCA was recently acquired itself by Haversham Holdings at the end of March this year for £1.2 billion and was then listed on the stock market.

The company was renamed to BCA Marketplace following the completion of the acquisition at the beginning of April.

Haversham is lead by former Stobart Group chairwoman Palmer-Baunack.