Copart to Buy ACV in $1.9 Billion Cash Deal
The online vehicle-auction operator will pay $10.50 a share to add a digital dealer-to-dealer wholesale platform and close by year-end 2026.
Copart, Inc. (CPRT), a global leader in online vehicle auctions, agreed to acquire ACV (ACVA), a digital automotive marketplace and data-services partner for dealers, for $10.50 a share in cash, an implied equity value of about $1.9 billion.
The price is a premium of about 45% to ACV’s unaffected close on Aug. 10, 2026, the last trading day before published media reports of a potential deal, and about 41% to the 30-day volume-weighted average through Sept. 9.
The strategic case is dealer-to-dealer wholesale. Copart said ACV’s market-leading digital wholesale platform creates a new growth vector, extending the auction operator’s reach into wholesale remarketing and strengthening its position across the full vehicle lifecycle. Copart will leverage its global buyer network and more than 250 locations to support ACV’s commercial wholesale platform and national buyer and inspector network.
Chief Executive Officer Jay Adair said the deal “reflects a significant milestone in our growth strategy by creating an industry-leading end-to-end vehicle remarketing platform that is fully digital.” He said ACV’s technology-driven marketplace complements Copart’s physical infrastructure and buyer network, and that the combination positions the company to drive efficiency across the automotive ecosystem. He added that the acquisition fits Copart’s growth pillars, including domestic whole-car expansion and technology-enabled services.
The combined company is expected to participate in activities ranging from dealer trade-ins and wholesale remarketing through salvage disposition and international resale, with one of the industry’s larger vehicle-condition datasets. ACV’s dealer-focused inspection technology, condition data, and AI-powered valuation tools are slated to strengthen Copart’s products and create a differentiated vehicle-data platform. The company also pointed to cross-selling buyers and sellers, expanded transportation services, and commercial-vehicle operations.
Under the merger agreement, a Copart subsidiary will promptly commence a tender offer for all ACV shares at $10.50 a share. The tender is subject to a majority tender, Hart-Scott-Rodino clearance, and other customary conditions. After a successful tender, a subsidiary will merge with ACV, and remaining shares will convert into the same cash price. Copart intends to fund the deal with cash on hand and said the transaction is not subject to a financing condition.
Both boards unanimously approved the deal, which is expected to close by calendar year-end 2026. ACV will operate as an independent subsidiary led by its existing team. The company said the transaction is expected to be neutral on Copart’s earnings per share in the first full year of ownership and accretive in fiscal 2028 and beyond, with near-term cost and revenue synergies across dealer, commercial, and retail channels.
ACV Chief Executive Officer George Chamoun said joining Copart would advance the company’s mission, expand the market, and accelerate innovation with global scale, including Copart’s nationwide footprint and a combined demand engine.