Monday, June 17, 2024
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CAP ACQUIRED BY US GROUP

CAP Automotive, a leading source of vehicle valuation data, new vehicle information and business solutions for the motorcycle and car trade, has been sold by private equity investor Montagu for £288m. New owner is US-based Solera Holdings, a major supplier of risk and asset management software and services to the automotive and property markets across more than 70 countries. 

Commenting on the deal, its chairman and chief executive Tony Aquila said: “The acquisition of CAP is the latest in a series of investments in Solera’s risk and asset management strategy, adding capabilities that create a unique digital garage. Expanding Solera’s valuation services through CAP will connect Solera’s investments and grow its presence in each phase of the vehicle lifecycle, from purchase, through SMR, to sale or salvage.”

Montagu originally acquired CAP in 2012 and has since increased its head-count by more than 75 per cent to around 130 staff and helped boost annual revenue by in excess of 40 per cent to £22m.

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