Copart Agrees To Buy ACV For $1.9 Bln In Cash
(RTTNews) - Copart Inc. (CPRT) on Thursday announced that it has agreed to acquire ACV (ACVA) for $10.50 per share in cash, representing an implied equity value of approximately $1.9 billion.
The purchase price represents premiums of about 45% to ACV's unaffected August 10 closing price and 41% to its 30-day volume-weighted average price through September 9.
The acquisition will expand Copart's presence across the vehicle remarketing ecosystem by adding ACV's digital wholesale marketplace for dealer-to-dealer vehicle sales.
Copart said the combination will create an end-to-end vehicle remarketing platform spanning dealer trade-ins, wholesale remarketing, salvage disposition and international resale. The companies will also combine their vehicle condition datasets and technology capabilities, including ACV's inspection technology, condition data and AI-powered valuation tools.
The transaction is expected to generate near-term cost and revenue synergies. Copart expects the deal to be neutral to earnings per share in the first full year of ownership and accretive in fiscal 2028 and beyond.
Copart plans to fund the acquisition with cash on hand, with no financing condition attached to the transaction. The boards of both companies have unanimously approved the deal, which is expected to close by the end of calendar 2026, subject to regulatory and other customary conditions.
