Jamieson announces the completion of another management advisory transaction involving the sale of British Car Auctions to Clayton, Dubilier & Rice.
Jamieson was appointed at the start of the process to advice the management team, led by Jon Olsen, on the structuring and negotiating of their exit and new incentive arrangements. With multiple bidders and a complex transaction management were able to get full visibility on the optimal arrangements for their new deal terms.
British Car Auctions is Europe’s leading provider of used vehicle remarketing services with centres in 12 countries across Europe and offers a full range of services to buy and sell used vehicles.
“BCA has an exceptionally strong market position and management team who wanted to remain with the business. The market for large buyouts remains fragile primarily due to the soft banking market. Highly equitised structures are affecting the way management teams get incentivised and added to that there are difficult decisions to be made around reinvestment and new deal terms”
Stuart Coventry, Jamieson