British Car Auction has attracted bids from a clutch of private equity groups that are expected to submit final offers next month valuing Europe’s biggest vehicle reselling network at between £400m ($670m) and £500m.

Bridgepoint, Cinven, BC Partners and Clayton Dubilier & Rice are all expected to reach the second round of bidding for BCA, which sells more than 12,000 vehicles a week at physical and internet auctions.