Funds Advised by Apax Partners and Periphas Capital Invest $550M in KAR Global

KAR Global Acquires CARWAVE for $450M

August 23, 2021

Automotive

KAR Auction Services, Inc. (d/b/a KAR Global) agreed to acquire CARWAVE Holdings LLC for $450 million to accelerate its dealer-to-dealer marketplace growth and expand its presence in California and other western U.S. markets. The deal brings CARWAVE's technology, dealer network and leadership team into KAR's digital remarketing platform and is expected to be immediately accretive to KAR's dealer-to-dealer operations.

Carvana Acquires ADESA U.S. Physical Auction Business from KAR Global

May 10, 2022

Transportation

Carvana has acquired the ADESA U.S. physical auction business from KAR Global for $2.2 billion, including 56 U.S. auction locations, approximately 6.5 million square feet of buildings and related operations and staff. The deal gives Carvana expanded physical auction and vehicle logistics capacity to support its retail marketplace while allowing KAR to focus on its digital marketplace strategy.

Ares Management Acquires Capital Automotive (CARS) from Brookfield for $3.8 Billion

February 8, 2022

Real Estate

Funds managed by Ares Management Corporation's Alternative Credit strategy and Real Estate Group acquired Capital Automotive LLC (CARS) from a Brookfield private real estate fund for $3.8 billion. CARS, headquartered in McLean, Virginia, owns a portfolio of more than 250 net-lease automotive dealership properties across the U.S. and Canada; the acquisition expands Ares' net-lease capabilities and increases its net lease gross asset value to more than $7 billion over the prior 15 months.

KAR Global Acquires BacklotCars

September 8, 2020

Automotive

KAR Global (KAR) has signed a definitive agreement to acquire BacklotCars, a Kansas City–based dealer-to-dealer online wholesale vehicle marketplace, for $425 million. The acquisition expands KAR’s digital remarketing capabilities by adding BacklotCars’ 24/7 bid-ask marketplace, vehicle inspection services and AI-driven recommendations to KAR’s existing TradeRev and broader remarketing platform.

KKR Acquires Majority Stake in apexanalytix from Carousel Capital

June 6, 2022

Data & Analytics

KKR has signed a definitive agreement to acquire a majority interest in apexanalytix, a supply-chain software, data and analytics provider. Carousel Capital will remain a significant minority owner; KKR’s investment is intended to accelerate apexanalytix’s global expansion, product development and talent recruitment.

Apax Partners (via Kelvin UK Bidco) to acquire Kin and Carta Plc for £203m

October 19, 2023

IT Services

Apax Partners LLP, via newly formed Kelvin UK Bidco, has launched a £203 million offer to acquire Kin and Carta Plc, a London-headquartered digital transformation consultancy. Apax says the transaction will allow Kin and Carta to accelerate growth and pursue acquisitions to expand its capabilities and market position as a private company.