Montague and Top Right Group reach sale agreement for CAP
CAP is a provider of vehicle valuation data, new vehicle information and business solutions to the automotive industry. Terms of the transaction, which is expected to close later in May, were not disclosed.
Founded in 1979 and based in Leeds (UK), CAP’s data and information systems serve clients across a variety of automotive-related sectors. CAP’s current used car values are used as the benchmark for residual values performance across the disposals industry and CAP Monitor is the leading residual values forecasting tool for the Contract Hire, Leasing, Daily Rental, Finance and Insurance industries. CAP’s new vehicle data system serves a broad variety of e-commerce, DMS, showrooms and asset management systems throughout the Retail, Contract Hire, Leasing, Finance and e-commerce sectors.
With the support of Montagu, management plans to continue CAP’s growth through further investment in the company’s technology and expansion into new market segments providing data information solutions to clients in the automotive sectors.
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.'
Edward Shuckburgh, director of Montagu, said: 'Montagu believes that 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.'
Duncan Painter, chief executive officer of Top Right Group, added: 'We believe Montagu is an excellent partner for the business as they have extensive experience within the sector and will work effectively with management teams to further develop the valuable information CAP provides to its customers. We are exceptionally proud of our achievements with the company and wish CAP and Montagu every success with their plans for the future.'