Debevoise & Plimpton LLP has advised Haversham Holdings in its approximately £1.2 billion acquisition of British Car Auctions from Clayton, Dubilier & Rice.

The acquisition is through a cash- and-stock deal. Debevoise advised Haversham on various debt financing aspects of the acquisition.

Haversham Holdings, an AIM listed investment vehicle, was established in 2014.

British Car Auctions started life in 1946 as Southern Counties Car Auctions. It currently sells more than 12,000 vehicles a week in physical auctions and over the internet.

The Debevoise team was led by London based partner Alan Davies, and included associates Felix Paterson and Gregg Young. Frankfurt based international counsel Philipp von Holst and associate Klaudius Heda also advised.

<p.>Debevoise & Plimpton LLP is a premier law firm with market-leading practices, a global perspective and strong New York roots. The firm’s commercially savvy lawyers regularly lead strategic transactions and complex disputes for world-class clients.</p.>