Copart Completes $1.79 Billion Acquisition of ACV Auctions to Expand Digital Platform

Key numbers

Deal value	$1.8B
Share of market cap	6.8%
Share of annual revenue	38.6%

Key highlights

• Total transaction value of $1,792.3 million executed at $10.50 per share in cash
• Tender offer concluded with approximately 68.43% of outstanding shares validly tendered
• ACV now operates as a wholly owned subsidiary of Copart following a second-step merger
• Acquisition expected to be EPS-neutral in the first full year and accretive by fiscal 2028
• ACV common stock has been delisted from the New York Stock Exchange

What Is the Deal?

Copart completed the acquisition of ACV Auctions through its subsidiary, Apple Merger Sub, Inc., via a tender offer that expired on October 15, 2026. With 116,818,409 shares validly tendered, the transaction met the majority threshold required to execute a merger under Delaware General Corporation Law. All remaining ACV shares not tendered were cancelled and converted into the right to receive $10.50 per share in cash. ACV has ceased trading on the New York Stock Exchange and will now operate as an independent subsidiary within the Copart corporate structure, maintaining its current leadership team.

Deal Structure & Terms

• Offer price of $10.50 per share in cash, net to the seller without interest
• Successful tender of 68.43% of total issued and outstanding ACV common stock
• Completion of second-step merger under Section 251(h) of the DGCL
• Transaction funded via Copart's existing cash reserves and balance sheet liquidity
• Full cancellation of untendered shares in exchange for equal cash consideration

Strategic Rationale

The combination unites Copart's global footprint of physical salvage yards with ACV's specialized digital marketplace for dealer-to-dealer wholesale transactions. By integrating ACV’s inspection technology and data-driven platform, Copart intends to offer a comprehensive remarketing solution. This platform now spans dealer trade-ins, traditional wholesale, and salvage disposition across international markets. The move provides ACV with access to Copart’s network of over 1 million members across 185 countries, significantly expanding the buyer pool for commercial and dealership partners while enhancing operational efficiency across the combined footprint.

Financial Context

The $1.79 billion deal reflects a major capital allocation for Copart, which reported annual revenue of $4.65 billion and maintains a market capitalization of $26.17 billion. Copart’s stock recently traded at $28.25, supported by a neutral RSI of 50.2. Management has indicated the acquisition will be neutral to earnings per share during the first full year of ownership. However, long-term operational synergies are expected to drive accretion to Copart’s EPS beginning in fiscal 2028. The company is scheduled to report its first-quarter financial results for fiscal 2027 in mid-November.

Executive Perspective

“With ACV now part of the Copart family, we have established an industry-leading, fully complete remarketing platform spanning dealer trade-ins, wholesale remarketing, salvage disposition, and international scale.”

Management commentary

“With ACV now part of the Copart family, we have established an industry-leading, fully complete remarketing platform spanning dealer trade-ins, wholesale remarketing, salvage disposition, and international scale.”

“Joining with Copart amplifies this mission, supercharging our growth, pace of innovation and global reach.”

COPART INC · financial snapshot

Share price	$28.25
Market cap	$26.2B
Revenue (annual)	$4.6B
P/E (TTM)	18.2×
1-month price change	-8.34%
Sector	IndustrialsSpecialty Business Services

Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.