Auto Trader floated on the London Stock Exchange today with a share price of 235p, valuing the company at \u00a32.35bn. The share price rose by 13% immediately on its debut.<\/p>\n
The UK\u2019s biggest online classified business is owned by private equity group Apax Partners.<\/p>\n
Apax acquired a 49.9% in AutoTrader in 2007 and bought the rest of the business from Guardian Media Group in a \u00a3619m deal in 2014, valuing the business at \u00a31.75bn, including debt.<\/p>\n
In the year to 30 March AutoTrader had turnover of \u00a3237.7m and adjusted underlying EBITDA of \u00a3136.1m.<\/p>\n
The online classified giant attracts 35 million monthly visits on its sites, covering 80% of franchise and independent UK retailer forecourts.<\/p>\n
Last year Apax was approached by rival buyout group Hellman & Friedman, which was ready to finance a \u00a32bn takeover of the business, a deal it rejected.<\/p>\n
The successful flotation could be good news for BCA Marketplace and Marshall Motors.<\/p>\n
BCA could see a listing through a reverse takeover by Haversham Holdings, the AIM listed vehicle set up last year by Avril Palmer-Baunuck.<\/p>\n
Haversham was created to acquire controlling stakes in quoted or unquoted businesses or companies.<\/p>\n
Marshall has applied to list on the London Stock Exchange AIM.<\/p>\n
In documents submitted last week it said the likely date of the IPO would be 1 April, 2015.<\/p>\n
Marshall is rated number 10 in the Motor Trader Top 200 with annual turnover of \u00a31.2bn.<\/p>\n","protected":false},"excerpt":{"rendered":"