5:18 pm, June 1, 2015
BCA is to buy auction and services group SMA Vehicle Remarketing Ltd for £43 million.
SMA sells vehicles online and through its auction sites in Kinross, Edinburgh, Birmingham, Newcastle and Leeds.
BCA executive chairman Avril Palmer-Baunack said: ‘We are delighted to have completed this value-accretive acquisition so soon after listing BCA and to be delivering on our previously-stated intention to pursue organic and non-organic routes to accelerate growth of the auction exchange and support services.
‘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.’
SMA employs about 500 staff and has a turnover of almost £40m and made a profit of almost £5m before tax in 2014.
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