Carvana Acquires ADESA U.S. Physical Auction Business From 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.

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.

America's Group Acquires San Antonio Auto Auction

June 17, 2024

Automotive

America's Group has acquired San Antonio Auto Auction from BA&W Enterprises Ownership Group, expanding America's Group's auction footprint to 39 locations across 19 states. The San Antonio facility sits on 44 acres and includes a six-lane arena, reconditioning facilities and mechanical services; the move is aimed at expanding America's Group's geographic reach and remarketing capabilities.

America's Group Acquires AuctionVcommerce

January 8, 2025

Cloud & SaaS

America's Group, parent of America's Auto Auction, has acquired AuctionVcommerce (AVC), a B2B auction technology platform. The acquisition will integrate AVC's dealer-facing SaaS tools into America's Auto Auction operations to streamline checkout, payments, reporting and consignment workflows for dealers.

Cars Commerce (Cars.com Inc.) Acquires DealerClub

January 23, 2025

Automotive

Cars Commerce (d/b/a Cars.com) acquired DealerClub, a dealer-to-dealer digital wholesale auction, for approximately $25 million in cash with up to $88 million of additional performance-based consideration. The deal, which closed January 23, 2025, expands Cars Commerce’s Trade & Appraisal strategy by adding transactional wholesale capabilities and access to a dealer-facing marketplace serving 650+ dealer customers.

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

May 26, 2020

Automotive

KAR Auction Services (d/b/a KAR Global) placed $550 million of newly issued perpetual convertible preferred stock in a strategic financing led by funds advised by Apax Partners with participation from Periphas Capital. The capital will support KAR’s operational recovery from COVID-19, accelerate its digital transformation and sustain its technology platforms and development pipeline.