Copart completes ACV Auctions acquisition
Copart completed its acquisition of ACV Auctions on Friday, according to a Copart press release.
ACV is a digital automotive marketplace and data services partner for dealers and commercial clients. Copart announced the $1.9 billion cash deal on Sept. 10.
ACV common stock shares have ceased trading on the New York Stock Exchange. ACV will now operate as an independent subsidiary of Copart led by ACV’s existing leadership team.
“We are pleased to complete the acquisition of ACV, which is an important milestone for Copart as we continue to deliver on our growth strategy,” said Jay Adair, Copart’s CEO, in the release. “With ACV now part of the Copart family, we have established an industry-leading, fully complete remarketing platform spanning dealer trade-ins, wholesale remarketing, salvage disposition, and international scale. Together we bring stronger capabilities, great efficiency, and an expansive footprint, and we’re excited about what we will be able to deliver for our customers moving forward.”
Adair discussed the acquisition during the company’s Sept. 10 Q4 fiscal 2026 earnings call with investors.
“We are excited about using our locations as staging areas for their vehicles and combining our global buyer base with their digital marketplace and remarketing technology,” Adair said at the time. “Copart and ACV are highly complementary. We bring physical scale, deep institutional relationships, salvage expertise, and international buyer demand with more than 275 locations, over 4 million vehicles sold a year, and approximately 1 million members across more than 185 countries.
“ACV brings dealer liquidity, relationships, and inspections and valuation technology, transacting approximately $10 billion of gross merchandise value in 2025 across more than 22,000 active buyers. Together, Copart and ACV create a more complete automotive marketplace — connecting the right vehicle to the right buyer through the right channel without forcing every vehicle into a single operating model.”
Copart completed the cash tender offer, through its wholly owned subsidiary Apple Merger Sub, Inc., to acquire all issued and outstanding shares of ACV common stock at a purchase price of $10.50 per share, net to the seller in cash, without interest, subject to any applicable withholding taxes.
As of the Oct. 15 tender offer expiration, 116,818,409 shares of ACV common stock were validly tendered (and not validly withdrawn), representing 68.43% of the total number of ACV’s issued and outstanding shares of common stock, according to the release. All shares have been accepted for payment.
“ACV’s mission is not complete, and we will continue to revolutionize the used vehicle sector,” said George Chamoun, ACV CEO, in the release. “Joining with Copart amplifies this mission, supercharging our growth, pace of innovation, and global reach. By combining forces and tapping into Copart’s massive national physical presence alongside a global buyer-seller network — we will unlock unprecedented value for our commercial and dealership partners, ensuring every vehicle finds its ideal buyer. I want to extend my heartfelt thanks to our exceptional ACV team, and we are thrilled to embark on this next chapter with the Copart team.”
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