[July 01, 2016] |
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Thoma Bravo to Acquire TRADER Corporation
Thoma
Bravo, LLC, a leading private equity investment firm, announced the
acquisition of TRADER Corporation (TRADER), Canada's leading digital
automotive marketplace and software solutions provider, from funds
advised by Apax Partners for approximately C$1.575 billion. The
transaction, which is subject to customary closing conditions, is
expected to close by the fourth quarter of 2016.
"We're extremely impressed by TRADER's growth into the largest and most
trusted digital automotive marketplace in Canada," said Holden Spaht, a
managing partner at Thoma Bravo. "We look forward to partnering with
Sebastian Baldwin and the entire TRADER team in their commitment to
innovation and accelerating the use of TRADER's current and future
software solutions."
TRADER Corporation is Canada's largest and most trusted digital
automotive marketplace and provides the most comprehensive set of
marketing software solutions to Canadian automotive dealers. Its market
leading online properties -- autoTRADER.ca™, autoHEBDO.net™ and Autos.ca
-- attract 13 million visits per month and are regularly relied upon by
over 5,000 dealers, listing over 450,000 vehicles. In addition, the
company provides software solutions that enable its dealer customers to
make smarter and faster business, inventory, and marketing decisions.
Sebastian Baldwin, TRADER's President and CEO, said: "Thoma Bravo's
track record of success in working with and growing sotware solutions
companies makes them the ideal partner for the next phase of TRADER's
growth. We look forward to working closely with them to continue
strengthening TRADER's market leading position."
"TRADER is well positioned to continue providing high
return-on-investment products to its customer base," said Arvindh Kumar,
a principal at Thoma Bravo. "We're excited to collaborate with TRADER to
expand its product portfolio organically and through strategic
investments and acquisitions."
Peter Stefanski, a vice president at Thoma Bravo added: "We have spent
several years evaluating the broader automotive technology sector. Our
partnership with TRADER is an excellent opportunity to invest in a
mission-critical franchise we believe will benefit from the growth in
automotive online media advertising."
Kirkland & Ellis LLP and McMillan LLP served as legal advisors to Thoma
Bravo. Evercore served as M&A advisor.
About Thoma Bravo, LLC
Thoma Bravo is a leading private equity investment firm building on a
30+ year history of providing equity and strategic support to
experienced management teams and growing companies. The firm seeks to
create value by collaborating with company management to improve
business operations and provide capital to support growth initiatives.
Thoma Bravo invests with a particular focus on application and
infrastructure software and technology enabled services. The firm
currently manages a series of private equity funds representing more
than $16 billion of equity commitments. For more information, visit www.thomabravo.com.
About TRADER
TRADER is the largest and most trusted digital automotive marketplace in
Canada and provides the most comprehensive set of marketing software
solutions to Canadian automotive dealers. The company is positioned at
the center of the car buying process in Canada, connecting consumers,
dealers and OEMs. Its marketplace, led by the flagship autoTRADER.ca
website and mobile applications, brings together Canada's largest
audience of in-market car shoppers with Canada's most comprehensive and
detailed inventory of new and used vehicle listings. TRADER's marketing
software solutions enable dealers to manage their websites, digital
marketing campaigns and inventory. The company's online marketplaces and
destinations include: autoTRADER.ca™, autoHEBDO.net™ and Autos.ca.
Please visit www.tradercorporation.com
for more information.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160701005764/en/
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