BCA Marketplace paid £16m for Eddie Stobart’s automotive business

BCA Marketplace, which owns WeBuyAnyCar.com, paid £16m in cash for Eddie Stobart’s automotive logistics business when it purchased it earlier this year.

The acquisition of the company, previously known as Autologic, also saw Avril Palmer-Baunack - the former Stobart chairwoman and  Autologic chief executive – rewarded with a bonus.

Details of the sale and bonus are detailed in BCA Marketplace’s half-yearly report for the nine months to 4 October 2014.

The report states that the business’ net assets were valued at £10m with a further goodwill payment of £6m, based on “the assembled workforce, logistics capabilities and buyer synergies.”

The report also reveals a bonus for Palmer-Baunack for the successful acquisition of BCA Automotive, adding that the amount will be revealed in BCA’s annual report next year.

Stobart's automotive business has since been rebranded as BCA Automotive.

BCA Automotive brought BCA Marketplace around 480 vehicle transporters and a portfolio of long-term relationships with a host of  OEMs and vehicle leasing companies.

The report added: “Through the acquisition of BCA Automotive, we have added a new revenue stream to the group from the delivery of new vehicles throughout the UK.

“Arising from this, we believe there are natural logistics synergies and customer service improvements that will benefit both the UK remarketing and vehicle buying divisions. We expect to see these benefits delivered over the course of the next financial year.”