CAP Automotive acquired by Solera Holdings for £295m

Time 3:33 pm, November 20, 2014

solera-cap-top-storyCAP AUTOMOTIVE has been acquired by leading provider of risk and asset management software and services Solera Holdings Inc for £295m.

US brand Solera provides software and services to the global property and casualty insurance industry. It is focused on risk and asset management of vehicles as well as property.

It has a long-established presence in the UK, already owning HPI and Audatex, and it is active in more than 70 other countries worldwide.

The acquisition of CAP creates the only UK-based enterprise with decision support data and software solutions spanning vehicle valuation, validation, collision and mechanical repair and total cost of ownership.

As a Solera company, CAP will be able to take advantage of the fact that Solera is a worldwide operation, enabling the rapid development and deployment of products that will add unique value to both CAP and Solera customers.

Ian Rendle, CAP Automotive CEO, said: ‘CAP’s market-leading data, risk and asset management expertise, and dedication to enabling informed customer decisions makes us a natural fit in the Solera family. In taking this exciting step, I am most excited by the opportunities it will bring for our customers.’

Tony Aquila, Solera’s founder, chairman and CEO, added: ‘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.’

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Rebecca Chaplin's avatar

Rebecca has been a motoring and business journalist since 2014, previously writing and presenting for titles such as the Press Association, Auto Express and Car Buyer. She has worked in many roles for Car Dealer Magazine’s publisher Blackball Media including head of editorial.

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