Announced
Completed
Financials
Tags
Domestic
Auto Services
Single Bidder
Acquisition
Private
United States
Majority
car dealership
Friendly
Completed
Synopsis
KAR, a global vehicle remarketing and technology solutions provider, completed the acquisition of CARWAVE, an online dealership network and auction, for $450m. "This acquisition adds a leading digital platform on the West Coast to our dealer-to-dealer segment—solidifying our competitive position and improving profitability across our dealer-to-dealer offerings. With the addition of CARWAVE to our successful digital marketplaces—including ADESA and BacklotCars—as well as our broad network of vehicle logistics centers, we are able to meet the needs of dealers in any market at any time," Peter Kelly, KAR Global President.
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