BCA Marketplace

LN: BCA

£1898.1m market cap

242p last close

In the UK, BCA Marketplace owns and operates the largest used vehicle exchange and is the leading provider of vehicle buying services through We Buy Any Car. BCA also provides exchange and buying services across Europe and its Automotive Services division provides transport, storage and technical expertise.

Investment summary

On 26 June 2019 the board of BCA Marketplace announced it had agreed an offer of 243p per share for the entire issued and to be issued share capital of BCA from BBD Bidco Ltd, a special purpose vehicle formed by investment funds managed by TDR Capital LLP for the specific purpose of making the offer. The offer price represents a premium of approximately 29.5% to BCA’s volume-weighted average price for the one month ended 19 June 2019. The offer is unanimously recommended by the BCA directors.

Y/E Mar
Revenue (£m)
EBITDA (£m)
PBT (£m)
EPS (p)
P/E (x)
P/CF (x)
2018A 2431.5 159.5 120.9 11.4 21.2 11.1
2019A 3028.0 171.9 132.8 12.9 18.8 15.9
2020E N/A N/A N/A N/A N/A N/A
2021E N/A N/A N/A N/A N/A N/A
Last updated on 11/09/2019
Industry outlook

For the purposes of the Takeover Code, Edison Investment Research is deemed to be connected with BCA Marketplace. Under Rule 20.1 Edison must not include any profit forecast, quantified financial benefits statement, asset valuation or estimate of other figures key to the offer, except to the extent that such forecasts, statements, valuations or estimates have been published prior to the offer period (as defined in the Takeover Code) by an offeror or the offeree company (as appropriate) in accordance with the requirements of the Code. Consequently, we have removed our estimates until the offer period ends.

Last updated on 11/09/2019
Sector
Industrials
Share price graph
Balance sheet
Forecast net debt (£m) N/A
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual 0.1 26.0 9.8
Relative* (0.6) 27.2 10.6
52-week high/low 247.0p/178.5p
*% relative to local index
Key management
Avril Palmer-Baunack Executive Chairman
Tim Lampert CFO & Director
Tim Richmond Investor Relations