Member Article

Leeds’ CAP Automotive sold in £288 million deal

Leeds-based CAP Automotive has been acquired by US firm Solera Holdings, owner of HPI and Audatex.

Montagu Private Equity sold the firm, which it had bought for £170 million two years ago.

Solera has long-established operations in the UK, and it is active in more than 70 countries worldwide.

CAP, which was founded in Skipton in 1979, runs a range of data products developed for easy integration in web and business software.

The acquisition of CAP gives Solera a portfolio of data and software businesses spanning vehicle valuation, validation, collision and mechanical repair, and total cost of ownership.

It is expected to spearhead the drive of CAP into mainland Europe, putting the company head-to-head with European market leader EurotaxGlass’s.

Ian Rendle, CAP Automotive chief executive 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.

“This partnership and the combined power of CAP’s and Solera’s data assets will enable us to deliver immediate wins for our customers and bring unique value I am already keenly aware the market is looking to CAP to provide.”

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, from purchase, through SMR, to sale or salvage..

“Expanding from the UK across advanced European markets, CAP data will enable households to make informed, market-driven decisions affecting their automotive assets.”

This was posted in Bdaily's Members' News section by Clare Burnett .