BCA Marketplace’s performance since its acquisition has been described as positive this morning in a trading update for the second quarter of 2015.
Group auction volumes increased to 274,300 units: a 7.7% improvement compared with the same quarter in 2014. Revenue for the same period increased by 17.8% to £243.4 million and adjusted EBITDA, increased to £23m, in line with expectations. Net debt is at £157.7m.
Haversham Holdings, a consortium of investors acquired BCA in March, renaming the company BCA Marketplace.
The trading performance, the group says, reflects expectations for volume growth at the time of the acquisition.
Quarter two shows further enhanced volume trends tracking ahead of January – March.
And the group “continues to evaluate projects to promote growth, increase capacity and increase service offerings both organically and through potential acquisitions”.
On August 25, the group bought Eddie Stobart's UK automotive logistics business. It operates about 450 vehicle transporters with long-term relationships with the majority of the biggest OEMs and vehicle leasing companies.
In November 2015 the Group will announce its interim report for the nine month period ending September 2015, which will include six months' trading of the BCA Group.
BCA has appointed three non-executive directors.
They are Stephen Gutteridge as senior non-executive director, with experience in the oil and gas, utilities, packaging, training and education sectors. He was chairman at Nighthawk Energy plc between 2011 and 2014, at President Energy plc between 2007 and 2011 and also at Star Energy Group plc from its IPO through to its acquisition by Petronas. He was also managing director of supply at Seeboard plc during its time as a £1.5bn publicly listed utility company. He is currently a non-executive director of Fulcrum Utility Services plc.
Jon Kamaluddin, a chartered accountant, will chair the audit committee. He serves as a non-executive director at a number of private companies and was, until October 2013, international director of ASOS plc, having also held the role of finance director and company secretary between 2004 and 2009.
Piet Coelewij is vice president of global operations of US-based Sonos, a wireless hifi equipment manufacturer, having previously been managing director, Europe. He has previously held senior positions at Amazon.com in the UK between 2007 and 2011 and at Phillips Consumer Electronics in China between 2004 and 2006.