The leading remarketing and vehicle auction company in Europe, BCA, has been acquired by Clayton, Dublier & Rice (CD&R) from current owners Montagu Private Equity.

Spread across some twelve countries and comprising 45 remarketing centres the BCA group sells more than £4 billion worth of used vehicles each year. These range from ex-rental stock to nearly new and some older models. As well as income generated from its physical auctions BCA also makes a significant profit through its online services. BCA has seen steady financial growth of late with analysts forecasting the trend to continue.

BCA sells on behalf of various operators including leasing companies, rental organisations, dealers and manufacturers and this year reportedly had over 70,000 buyers in Britain alone.

Heading the group will be Chairman Fred Kindle who has served as the ABB Group chief executive officer and is currently a CD&R partner in London. Jon Olsen will carry on with his role as executive officer.

BCA has strong ties with the Hertz group and is seen as an excellent value proposition by industry experts. The company plans to expand its operations in the near future with a number of strategic acquisitions and new purchases.

CD&R has a long history of building successful businesses and has stated that it will be committed to providing the most innovative and cost effective marketing solutions to its new customers. Founded in 1978, CD&R has made a name for itself as a private equity firm that produces superior financial results and making businesses more profitable. The new agreement will take effect in early 2010.