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Solera acquires CAP Automotive

Solar Holdings has acquired CAP Automotive from Montagu Private Equity for a total consideration of GBP288m. Livingstone advised Solera on the acquisition.

Solera, a NYSE-listed company (Ticker SLH), is a leading provider of risk and asset management software and services to the automotive and property marketplace, including the global P&C insurance industry. Solera is active in over 70 countries across six continents.

CAP is a leading provider of real-time, high accuracy valuations and specifications for new and used vehicles in the UK. CAP’s solutions provide pricing transparency for vehicle transactions and enable buyers and sellers of vehicles to make accurate pricing decisions.

Tony Aquila, Solera’s founder, Chairman and Chief Executive Officer, says: “The acquisition of CAP is the latest in a series of investments in our risk and asset management strategy, adding capabilities that create a unique 'digital garage.' Expanding our valuation services through CAP will connect our investments and grow our 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."

Edward Shuckburgh, Director of Montagu Private Equity, says: "We are very proud to have worked closely with CAP’s excellent management team to accelerate the company’s growth, both in the UK and internationally, through significant investment in its technology, the team and selective acquisitions. We wish the CAP team well and know they will continue to thrive under the ownership of Solera.”

Richard Fetterman, Partner at Livingstone, says: “We are delighted to have helped Solera unlock and complete this important strategic acquisition. This deal is another example of Livingstone advising cross-border, combining our global relationships, sector insights and hands-on transactional experience. We have really enjoyed working with Solera and are sure that CAP will be a key addition to the Solera family.”

The transaction follows the GBP143m sale in May 2014 of Autodata, a leading provider of technical information to the automotive aftermarket, in which Livingstone advised the sellers and further enhances the firm’s strong credentials in the business information sector.

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