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Autorama UK Limited
Investec M&A Advisory advised on the £200m sale of Autorama UK Limited to Auto Trader Group plc
Investec's M&A Advisory Team has advised the shareholders of Autorama (trading as “Vanarama”) on its sale to FTSE 100 company Auto Trader Group plc for a total consideration of £200m.
Autorama is a data-driven, e-commerce business that provides a one-stop-shop self-service solution for leasing new cars and light commercial vehicles in the UK.
The acquisition will transform Auto Trader's existing leasing proposition and help to meet the demands of the growing number of consumers who might consider leasing their next new vehicle. In time, it will enable Autorama to leverage Auto Trader's brand to accelerate its recent expansion, beyond light commercial vehicles, into leasing new cars.
There is a large structural opportunity for a new car leasing marketplace driven by the growth of electric cars, new manufacturers entering the UK market, lower take up of company car schemes and a shift towards new digital distribution models. Leasing provides consumers a cost-effective way to access a new car with a model that is consistent with any future move towards usership.
Our mandate was to run a dual track process involving a targeted sellside alongside a £25m growth capital fund raise. Through our deep sector knowledge and relationships we were able to successfully identify and target strategic interest, including from Auto Trader. Using our relationship within Auto Trader’s Exec team we were able to quickly accelerate their knowledge and interest in Autorama, leading them to pre-empt the broader process with a strategic bid. We then helped navigate our client through a very thorough and multi-faceted due diligence process to deliver the transaction despite some significant macro-economic headwinds.
The transaction met diverse shareholder objectives, securing the means to achieve Autorama’s future growth ambitions by becoming part of the UK’s largest automotive marketplace, as well as providing significant value realisation for Autorama’s shareholders.
“We have been working alongside Investec for over a year and greatly value their hard work, determination and considered advice. Their deep sector knowledge allowed them to quickly understand our business and diligently position it with investors. We were impressed with their agility to run a fund raising and M&A process in parallel, utilising their broad relationships with both potential investors and buyers. We thoroughly enjoyed working with Dan and the rest of the team at Investec”
Andy Alderson, CEO and Founder, Autorama
Autorama/Vanarama is an award-winning online personal and commercial vehicle leasing broker and one of the UK’s longest-running e-commerce brands in the automotive sector. Through constant innovation and investment, it has developed into a unique fully digital end-to-end marketplace that allows customers to research, select, finance, and insure both personal and commercial vehicles using their platform.
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