London, 02 May 2012: Montagu Private Equity LLP ("Montagu"), one of Europe's leading private equity firms, has reached an agreement to acquire CAP from Top Right Group (formerly Emap International). CAP is a market leading provider of vehicle valuation data, new vehicle information and business solutions to the automotive industry. Terms of the transaction, which is expected to close later in May, were not disclosed.
Founded in 1979 and based in Leeds (UK), CAP’s data and information systems serve clients across a broad variety of automotive-related sectors. CAP’s current used car values are used as the benchmark for residual values performance across the disposals industry and CAP Monitor is the leading residual values forecasting tool for the Contract Hire, Leasing, Daily Rental, Finance and Insurance industries. CAP’s new vehicle data system serves a broad variety of e-commerce, DMS, showrooms and asset management systems throughout the Retail, Contract Hire, Leasing, Finance and e-commerce sectors.
With the support of Montagu, management plans to continue CAP’s impressive track record of growth through further investment in the company’s innovative, market leading technology and continued expansion into new market segments providing data information solutions to clients in the automotive sectors.
Ian Rendle, General Manager of CAP said: “All of CAP’s products are based on our expertise within the market place, our close relationships within the industry and our dedication to develop key business solutions for our customers. We are delighted to be partnering with Montagu, who share our vision for the future of the company and fully support us in our continued commitment to delivering a market leading service to our clients.”
Edward Shuckburgh, Director of Montagu, stated: "Montagu believes that CAP has 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.”
Duncan Painter, CEO of Top Right Group “We believe Montagu is an excellent partner for the business as they have extensive experience within the sector and will work effectively with management teams to further develop the valuable information CAP provides to its customers. We are exceptionally proud of our achievements with the company and wish CAP and Montagu every success with their plans for the future.”
The value released by this transaction will be reinvested by Top Right Group back into the operating businesses as the Group continues to position itself for top line, sustainable growth, particularly internationally. It will also be used to fund strategic acquisitions.