The acquisition of CarNext by Constellation Automotive Group creates a leading European digital used car marketplace, selling more than 2.5 million cars annually for a Gross Merchandise Value of €21bn. The combination of CarNext and Constellation expands the group's vertically integrated C2B, B2B, and B2C marketplace model across seven major European countries, allowing the group to reach unmatched scale. The addition of CarNext's proprietary data analytics and historic European used car transaction data will give Constellation an edge in terms of data and technology excellence. The deal is expected to further boost Constellation's growth across the UK and continental Europe, and comes after the combined group raised more than €2bn this year. The acquisition will allow Constellation to combine the scale of its respective marketplaces to lead the digital transformation of the used car market across Europe.

The sale of BCA to Haversham Holdings marks a significant transaction in the European used vehicle market. Under CD&R ownership, BCA has undergone significant transformation, diversifying its business and investing in technology and digital platforms. The company's growth initiatives and operating improvements have resulted in an increase in EBITDA of approximately 85% under CD&R's ownership. The transaction is expected to close in early April, with shareholders of BCA receiving £701 million in cash and £104 million in stock. The deal is the result of a thorough process, with CD&R working closely with its financial advisors, including HSBC Bank plc, J.P. Morgan Limited, Rothschild, and UBS Limited, as well as its legal advisors, Clifford Chance LLP and Debevoise & Plimpton LLP. The transaction demonstrates the attractiveness of the European used vehicle market and the potential for growth and value creation in the sector.