10 Aug 16

BCA acquires Paragon, promises “unrivalled network”

Vehicle auction market leader BCA Marketplace is promising an “unrivalled network of refurbishment, fleet management and remarketing centres for fleets of all sizes” in the UK after the acquisition of Paragon Automotive.

Paragon provides outsourced vehicle services to major fleet operators, including rental, leasing and corporate fleets and motor manufacturers. Last year, it processed more than 600,000 vehicles. The company currently employs more than 1,250 staff in 12 locations across the UK, all of which will be retained by BCA. 

BCA paid £105 (€123) million for the company, and further earn-out payment could run up to £30 (€35) million, writes Fleet News.

The acquisition both strengthens BCA's national network in the UK as well as extends its range of services.  BCA says it now has an “unrivalled network of refurbishment, fleet management and remarketing centres”, creating flexibility and efficiency by delivering end-to end services for fleets of all sizes.

BCA has been on an expansion spree since its own acquisition by Haversham Holdings early last year. Previously, the company had acquired Scottish Motor Action Group, Stobart Automotive and Ambrosetti. Webuyanycar.com is also part of the BCA family. 

BCA Marketplace currently auctions more than 1.5 million cars a year in the UK, and is involved in the defleeting process of 3.5 million vehicles across Europe. Its ambition is to become the main managed vehicle services provider in the UK, and across Europe. 

Image: BCA Marketplace

Authored by: Frank Jacobs