CMA Provisionally Approves BCA Owner's Aston Barclay Takeover: What Does It Mean For The Used Car Market?

CMA Provisional Approval for Major Used Car Auction Merger

The UK's Competition and Markets Authority (CMA) has provisionally given the green light to Constellation's takeover of Aston Barclay, concluding the deal is unlikely to harm competition in the used car auction market. This significant development comes after months of scrutiny and could reshape the landscape of business-to-business used vehicle services across the country.

The Provisional Findings

In an interim report, the watchdog stated it has 'provisionally found' the takeover – by Constellation Developments Limited of ABVR Holdings Limited – 'has created a relevant merger situation' but 'has not resulted, and may not be expected to result, in a substantial lessening of competition' in the supply of business-to-business used vehicle auction services across the UK. This provisional clearance marks a crucial step forward for the deal that has been under investigation since October 2025.

Why Aston Barclay's Financial Position Was Key

A key factor in the provisional approval was Aston Barclay's financial position prior to the takeover. The CMA's report indicates that without the deal, its 'provisional view is that… Aston Barclay would likely have exited the market' due to financial challenges and a lack of access to capital for the restructuring needed to keep it afloat. This assessment of the company's precarious financial health proved crucial to the regulator's decision-making process.

Market Impact Assessment

While the watchdog believes that some of Aston Barclay's assets would have been sold to other buyers in an insolvency scenario, it said those purchasers were unlikely to recreate a serious national competitor. The CMA noted that only one potential buyer scenario could have 'made a material difference' to competitive conditions, but this was not seen as the most likely outcome. As a result, the CMA concluded that the loss of Aston Barclay as a separate competitor would have occurred 'with or without the merger', meaning the deal does not significantly worsen the market compared with what would likely have happened anyway.

What This Means for the UK Used Car Market

BCA is currently the largest used car auction group in the UK, and this acquisition would add five new auction locations, including Aston Barclay's two mega centres in Wakefield and Donington Park. The consolidation raises important questions about market concentration and competition in the sector. However, the CMA's provisional findings suggest that the merger represents the best outcome for maintaining competitive conditions, given Aston Barclay's challenging financial circumstances.

Next Steps and Timeline

The report stressed that it has only provisionally cleared the takeover, and invited submissions from interested parties by 5pm on February 12, 2026. Constellation will likely breathe a sigh of relief after this latest development as the takeover has been hanging in the balance since the CMA said it would be stepping up its investigation into the merger in October, following the initial deal struck in April that would have seen Aston Barclay joining BCA in the Constellation stable.

The full provisional report can be viewed on the official government website, allowing industry stakeholders to review the detailed analysis behind this significant decision that could shape the future of used car auctions in Britain.