The Competition and Markets Authority (CMA) has cleared the acquisition of ABVR Holdings Limited, the parent company of Aston Barclay, by Constellation Developments Limited through its subsidiary British Car Auctions (BCA), concluding that the transaction does not substantially reduce competition in the UK market for business-to-business (B2B) used vehicle auction services.
The decision, published on 5 March 2026, follows an in-depth Phase 2 investigation conducted by an independent inquiry group within the CMA. The review was initiated after the authority identified potential concerns that the merger could weaken competition in the market for auction services used by large national vendors and buyers of second-hand vehicles.
Both BCA and Aston Barclay operate auction platforms that facilitate the sale of used vehicles between businesses, including leasing companies, fleet operators, manufacturers and dealerships. BCA is currently the largest provider of such services in Great Britain, while Aston Barclay is the third-largest competitor in the same market segment.
As part of its merger assessment, the CMA evaluated the likely competitive conditions that would have prevailed had the transaction not taken place. The inquiry group concluded that the most probable counterfactual scenario would have been the exit of Aston Barclay from the market. According to the investigation, Aston Barclay was facing significant financial difficulties and would likely have ceased operations if the deal had not proceeded. In that situation, some of the company’s assets could have been sold to other buyers; however, the CMA determined that any such purchasers would not have been capable of exerting the same level of competitive pressure on BCA in supplying auction services to large national vendors.
Because Aston Barclay’s competitive constraint on BCA would likely have disappeared regardless of whether the merger took place, the authority concluded that the acquisition would not lead to a substantial lessening of competition. On that basis, the CMA decided to allow the transaction to proceed.
Cyrus Mehta, chair of the independent inquiry group, stated that after reviewing a broad range of evidence, including the prospects for Aston Barclay’s business in the absence of the deal, the group determined that the merger would not materially harm competition in the relevant market.