Montagu Private Equity LLP (Montagu), which claims to be one ofEurope’s leading private equity firms, has agreed purchase terms withCAP’s parent company Top Right Group (formerly Emap International). Headquartered inLondon, Montagu also has offices in Düsseldorf,Manchester,Paris,StockholmandWarsaw.
Terms of the transaction, which is expected to close later in May, were not disclosed. However, according to a report in The Guardian (Wednesday, May 2), Top Right, sold CAP for £150-200 million. CAP was acquired by EMAP in 1994 for £20m.
The acquisition by Montagu means that both of theUK’s major vehicle valuation and automotive industry information providers are in the hands of private equity companies.CAP’s chief rival, EurotaxGlass’s, which owns Glass’s Guide in theUK, is owned by Candover Investments.
CAPis based inLeedsand was founded in 1979. The company’s data and information systems serve clients across a broad variety of automotive-related sectors.
With the support of Montagu, management plans to continueCAP’s track record of growth through further investment in the company’s technology and continued expansion into new market segments providing data information solutions to clients in the automotive sectors.
Edward Shuckburgh, director of Montagu, said: ‘Montagu believes thatCAPhas significant opportunities to build on its market leading position. We are excited about working with an experienced and energetic management team, who are eager to accelerate the company’s development to the benefit of all stakeholders.’