Valuation data specialists CAP have been sold to Montagu Private Equity for an undisclosed sum.
The transaction agreed between CAP’s current owners Top Right Group (formerly Emap International) and Montagu is expected to be closed before the end of this month.
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.”
The acquisition follows closely on from CAP’s launch of Black Book Live which publishes trade price changes as soon as they are identified. The new system hopes to solve the problem of uncertainty around changes in vehicle values between the publication dates of a ‘traditional’ monthly price guide.
Edward Shuckburgh, director of Montagu, said: "Montagu believes 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.”
Montagu sold the operating company of British Car Auctions (BCA) to US private equity company Clayton, Dubilier and Rice for an undisclosed sum in 2010.