Accelerating the acquisition of CarandClassic.co.uk
Vehicle data and valuations specialist Cazana had been in discussion with the owner of the CarandClassic business to explore a possible sale, knowing there was keen interest from other potential buyers. We were instructed by a Cazana group company to advise on the acquisition, when the seller offered a short window of opportunity to buy the business provided their deadline was met.
CarandClassic.co.uk is Europe’s largest online classic car community, with millions of visitors monthly. Cazana viewed it as a valuable strategic acquisition, bringing 20 years of historic vehicle pricing data and naturally extending their international reach.
Whilst such a process might usually be expected to take a couple of months, we rose to the challenge and moved quickly from instruction to completion of the share purchase in just over a week.
We adapted our approach to fit Cazana’s requirements and its own agility and urgency. We provided commercial advice on diligence and transactional risk, drafted effective short form documentation and focused on an expedited negotiation process to drive the transaction forward within the available time.
Making great things happen
Cazana has commented that the addition of the CarandClassic site and its audience has significantly enhanced their next generation valuation proposition, and boosted reach for Cazana’s commercial partners.
Cazana’s CEO Tom Wood said the addition of CarandClassic to their existing business offers huge value to Cazana’s automotive trade customers, and will help to springboard international expansion.