CMA approves Copart/Hills deal

ILC ARTICLE

17th July 2023

The Competition and Markets Authority has officially given the green light to Copart’s acquisition of Hills Motors.

In May it launched an investigation into the proposed deal, fearing a lessening of competition in the UK market for vehicle salvage services.

After considering new evidence from customers, it updated its assessment in June to provisionally approve the deal, and has now concluded that Hills Motors is not a significant competitor for Copart and the acquisition will not negatively impact the sector.

It said, “Having considered responses to its revised provisional findings, the CMA has today confirmed that the deal does not raise competition concerns in the supply of salvage services and has now concluded that the deal should be cleared.”