We advised Copart, Inc., a global leader in online vehicle auctions and remarketing services, on the acquisition of Autovahinkokeskus Oy, the leading Finnish salvage vehicle realization company, from several Finnish insurance companies.
The transaction involved complex negotiations on both transaction documentation and the commercial framework put in place in connection with the transactions with the insurance companies being the sellers. The insurance companies remained key customers of the target following completion of the transaction. The transaction also involved significant competition law aspects.
Copart headquartered in Dallas, Texas (the US), currently operates in more than 200 locations in 11 countries and has over 125,000 vehicles up for auction every day. Copart is listed in NASDAQ and its revenues in 2017 were EUR 1.45 billion.