Alchemy and RJD get in gear to bid for Aviva's motoring brands
Buyout legend Jon Moulton and turnaround specialist RJD Partners are preparing bids for motoring divisions being auctioned by Aviva this month.
Aviva's adviser, NM Rothschild, has asked for bids for BSM, the UK's biggest driving school, Auto Windscreens and HPI, a vehicle- information business. BSM and Auto Windscreens are part of Aviva's RAC division.
It has been suggested that the three businesses, which might be sold separately, could fetch up to £500m. However, a source said this was unlikely as BSM was probably only worth around £25m, while the loss-making Auto Windscreens could "be anything" up to £50m.
It is thought that Mr Moulton's private equity group, Alchemy Partners, will bid for all three, while RJD is focusing on BSM and Auto Windscreens. Phoenix Private Equity was tipped as possible buyer of HPI – a business it sold to Aviva for £120m in 2004.
Rutland Partners, the private equity owner of ATM operator NoteMachine, is also believed to be interested.
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