Apax to Sell Canadian Auto Marketplace to Private-Equity Firm
02 July 2016 - 4:50AM
Dow Jones News
Apax Partners on Friday said it agreed to sell Trader Corp., an
online automotive marketplace based in Canada, to private-equity
firm Thoma Bravo for 1.575 billion Canadian dollars ($1.22
billion).
Trader Corp. offers software for auto dealers and car buyers.
The company's online properties include autotrader.ca,
autohebdo.net and Autos.ca, and they attract 13 million visits a
month, according to Apax Partners.
The transaction, which is pending certain closing conditions, is
expected to close sometime in the final three months of the
year.
Apax bought Trader in June 2011 from Yellow Media Inc. for
around C$708 million ($555.8 million). A year ago, The Wall Street
Journal reported that Apax was considering its options for Trader,
including a sale or initial public offering of the Ontario-based
company.
Last month, Apax Partners' affiliate Apax Europe VII sold its
remaining 18.4 million shares in car sales website Auto Trader
Group PLC at 415 pence (603.5 cents) a share, raising £ 76.4
million ($111.1 million).
Write to Ezequiel Minaya at ezequiel.minaya@wsj.com
(END) Dow Jones Newswires
July 01, 2016 14:35 ET (18:35 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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