KAR Global Acquires CARWAVE for $450M

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.

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

May 10, 2022

Transportation

Carvana agreed to acquire ADESA U.S.’s physical vehicle auction business for $2.2 billion in cash from KAR Global. The transaction includes 56 ADESA U.S. sites and related operations, with Carvana expecting to close in May 2022.

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.

CarGurus Acquires 51% Stake in CarOffer

December 10, 2020

Automotive

CarGurus agreed to acquire a 51% majority interest in CarOffer, an instant vehicle trade platform, at an enterprise valuation of $275 million. The strategic acquisition adds wholesale trading and logistics capabilities to CarGurus' dealer platform, enabling a seamless retail and wholesale solution 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.

Global Auto Holdings to Acquire K.W. Bruun Import A/S and K.W. Bruun NxT A/S

September 27, 2024

Transportation

Global Auto Holdings (TopCo) Limited (GAHL) entered into a definitive agreement to acquire K.W. Bruun Import A/S and K.W. Bruun NxT A/S (together, KWB), a major automotive distributor in Denmark and Sweden. The deal is subject to customary regulatory and certain OEM approvals and is anticipated to close prior to calendar year-end 2024.