Bowmark Capital, the mid-market private equity firm, and Five Arrows Principal Investments, the private equity business of Rothschild Merchant Banking, have sold Autodata, the provider of technical information to the automotive aftermarket, to Solera Holdings, Inc. for of £340 million. Solera is a provider of risk and asset management software and services to the automotive and property marketplace. The transaction is expected to complete in February 2017.
Established in 1975, Autodata publishes technical information on approximately 40,000 vehicle models from 136 manufacturers. Its products provide over 90,000 professional workshops with access to a comprehensive suite of up-to-date technical data and guidance on cars, light commercial vehicles and motorcycles, enabling them to carry out service, repair and diagnostic work.
Since Bowmark and Five Arrows Principal Investments acquired the company in May 2014, Autodata has significantly enhanced its content and technology platform, and expanded its customer base in Europe and Australia. It has also made three strategic acquisitions in France, Sweden and Finland. Its latest online product, which attracts over 840,000 page views per day, provides an essential workflow tool to over 120,000 automotive technicians, enabling them to conduct their day-to-day activities efficiently and effectively.
Rod Williams, Autodata’s chief executive, commented: “With the support of Bowmark and Five Arrows, we have achieved significant growth over the past two and a half years, driven by new product innovation, investment in people and expanding our footprint in our core markets. Our products and services represent an excellent fit with those of Solera, and we are excited at the new opportunities which being part of the Solera group will bring – to Autodata, its customers and its employees.”
Bowmark partner, Julian Masters, said: “Since 2014, Bowmark and Five Arrows have worked closely with Autodata to enhance its product offering and accelerate its growth. The company is well-positioned to continue its success under its new owner.”
UK, London & Maidenhead, Kent
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