The Car and Truck Fleet and Leasing Management Magazine

BCA Acquired by Clayton, Dubillier & Rice

December 31, 2009

LONDON/NEW YORK - Clayton, Dubilier & Rice, LLC recently announced a definitive agreement to acquire BCA, one of Europe's leading vehicle auctions and remarketing companies, from Montagu Private Equity.

Fred Kindle, a London-based CD&R partner and former chief executive officer of ABB Group, will serve as chairman of BCA. Jon Olsen will remain chief executive officer. The management team will retain an equity stake in the company.

CD&R recently completed investments in JohnsonDiversey, Inc., a global provider of commercial cleaning, sanitation and hygiene solutions, part of a broader recapitalization of the company valued at $2.6 billion, as well as a $250 million investment in NCI Building Systems, one of North America's largest integrated manufacturers of metal products for the nonresidential building industry.

Bank of America Merrill Lynch, BNP Paribas Fortis, Commerzbank, HSBC, Investec, Lloyds TSB, The Bank of Ireland, and The Royal Bank of Scotland have acted as joint mandated lead arrangers of the debt financing. HSBC and BofA Merrill Lynch served as M&A advisors for CD&R. Clifford Chance and Debevoise & Plimpton served as legal advisors to CD&R, and tax and financial transaction services were provided by Ernst & Young.

The BCA transaction is expected to close in the first quarter of 2010.

 

Twitter Facebook Google+

Comments

Please note that comments may be moderated. 
Leave this field empty:
 
 

Fleet Incentives

Determine the actual cost of owning and running a vehicle in your fleet. Compare vehicles by class and model.

FleetFAQ

Fleet Tracking And Telematics

Todd Ewing from Fleetmatics will answer your questions and challenges

View All

 

Fleet Management And Leasing

Merchants Experts will answer your questions and challenges

View All

 

Sponsored by

The name given in Europe to a kind of national sales tax which is added to the selling price of goods or services, and which in certain circumstances, either recoverable or deductible.

Read more

Up Next

More From The World's Largest Fleet Publisher