Constellation Automotive Group is one of Europe’s largest vertically integrated digital used car marketplaces, operating across the full vehicle lifecycle through three complementary platforms: BCA, WeBuyAnyCar and Cinch.
Initial investment
2019
Sector
Consumer and business services
Initial transaction size
£2.2bn
TDR had developed deep sector knowledge through its investment in Ayvens, providing insight into the complex and fragmented value chain that characterises the automotive aftermarket across Europe.
Constellation was uniquely positioned as a large-scale incumbent in the used car market operating across B2B and C2B channels at the time of acquisition with the potential to help transform the market through increased digitalisation, leveraging its significant access to car stock and sizeable logistics infrastructure. In addition, the company was well-positioned to take advantage of the growing demand from consumers to buy used cars online through the launch of an online B2C business.
Under TDR’s ownership, Constellation has been transformed into a fully digital used car marketplace operating across the entire value chain. The business transitioned from operating predominantly physical to fully digital auctions, with all remarketing activity now taking place online. This has improved efficiency and expanded the customer reach.
cinch, which launched in 2020, quickly established itself as the UK’s leading online B2C marketplace for used cars, delivering a new direct-to-consumer channel and enabling customers to buy, finance or part-exchange vehicles entirely online. The combination of cinch and Marshall Motor Group, acquired in 2022, has created the UK’s second-largest used car retailer.