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Announced

Completed

Shift completed the merger with CarLotz.

Financials

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Transaction Value-
Consideration TypeOrdinary Shares
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Majority

Public

Domestic

Acquisition

Specialty Retailers

automotive retailers

United States

vehicle consignment

Single Bidder

Friendly

Merger

Completed

Synopsis

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Shift, an end-to-end ecommerce platform for buying and selling used cars, completed the merger with CarLotz, a consignment-to-retail used vehicle marketplace. Financial terms were not disclosed. “The Shift and CarLotz teams have admired each other and our respective businesses for quite some time. We’ve always seen a considerable amount of strategic and cost synergies with a combined entity. We are strongly convinced that the merger will put us in a position to pursue a profitable future. As such, this is a transformative moment in Shift’s history by enabling us to advance our vision to be the end-to-end destination for car ownership that controls its own destiny," George Arison, Shift Co-Founder and CEO.

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