KAR Global Acquires CARWAVE for $450M
August 23, 2021
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.
- Buyers
- KAR Auction Services, Inc. (KAR Global)
- Targets
- CARWAVE Holdings LLC
- Industry
- Automotive
- Location
- California, United States
- Transaction Type
- Buyout
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