Solera acquires CAP Automotive

Livingstone’s Media & Technology team is pleased to announce the acquisition by Solera Holdings, Inc. of CAP Automotive from Montagu Private Equity for a total consideration of £288m. 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, commented: “We first met Richard Fetterman and the Livingstone team when they were running a process to sell a company in which we were a bidder. Through our interactions during that process, the Livingstone team impressed us with their integrity, professionalism and market insights. When we decided to pursue an acquisition of CAP Automotive in an off-market transaction, we knew that we wanted Livingstone on our side. It has been a pleasure to work with Livingstone on the acquisition of CAP. At every stage – from unlocking the initial conversation to closing – they gave us sound objective advice and were totally committed to the mission.”

Edward Shuckburgh, Director of Montagu Private Equity, said: “Livingstone’s openness, integrity and calm approach were key to this deal and making it happen.”

Richard Fetterman, Partner at Livingstone, added: “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 £143m 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.