Copart has agreed to acquire ACV Auctions for US$1.9 billion in cash, combining its salvage auction business with ACV's dealer-to-dealer wholesale platform to create a fully digital, end-to-end vehicle remarketing operation expected to close by the end of 2026.
- Copart will pay US$10.50 per share, representing a 45 per cent premium over ACV's previous closing price
- The deal combines insurance salvage operations with dealer-to-dealer wholesale sales across 11 countries
- ACV brings AI-powered valuation tools, vehicle inspections, and inventory management services to the combined platform
- Copart reported slowing growth with 2.4 per cent quarterly revenue increase, while ACV grew 10 per cent year-over-year
- Transaction expected to close by end of 2026 and add to earnings in fiscal 2028
Texas-based online vehicle auction company Copart has agreed to buy New York-based digital wholesale marketplace ACV Auctions for US$1.9 billion in cash.
The acquisition will move Copart beyond its traditional salvage business and into dealer-to-dealer wholesale auctions. ACV also provides vehicle inspections, transportation, financing, valuation tools and inventory-management services.
Copart will pay US$10.50 for each ACV share. The price represents a 45% premium over ACV’s closing share price on 2026-08-10, before reports of a possible transaction became public.
“This acquisition reflects a significant milestone in our growth strategy by creating an industry-leading end-to-end vehicle remarketing platform that is fully digital,” said Copart CEO Jay Adair.
The combined operation will cover dealer trade-ins, wholesale vehicles, insurance salvage and international resale. Copart said the acquisition will also add ACV’s inspection data and artificial intelligence-powered valuation tools to its existing services.
Copart sells vehicles on behalf of insurers, dealers, rental companies, financial institutions and fleet operators. Its buyers include auto recyclers, rebuilders, exporters and dealers.
The company operates more than 250 locations in 11 countries and sold more than four million vehicles during its latest fiscal year. Its Canadian network includes nine yards across Alberta, New Brunswick, Nova Scotia, Ontario and Quebec.
ACV already handles some Canadian inventory through a weekly auction that offers Canadian late-model trucks to U.S. dealers. The acquisition announcement did not identify any immediate changes to Copart or ACV operations in Canada.
“Together, we will deliver even more value to our dealer and commercial partners by offering expanded capabilities,” said ACV CEO George Chamoun.
ACV will continue operating as a separate Copart subsidiary under its current leadership. The transaction is expected to close by the end of 2026, subject to shareholder and regulatory conditions.
Copart expects the deal to have a neutral effect on earnings per share during its first full year of ownership and begin adding to earnings in fiscal 2028.
Sources: Copart and ACV acquisition announcement, Copart Canadian locations, ACV Canadian inventory sale.
you need to use CP style and avoid anthropromorphization. THis needs more market context info.
Copart to acquire ACV Auctions for US$1.9 billion
Texas and New York -- Texas-based online vehicle auction operator Copart has agreed to acquire New York-based digital wholesale marketplace ACV Auctions for about US$1.9 billion in cash.
Copart will pay US$10.50 for each ACV share. That represents a 45 per cent premium over ACV’s closing price on 2026-08-10, before reports of a possible transaction became public.
The acquisition would extend Copart’s reach beyond damaged and total-loss vehicles. Copart’s core customers include insurance companies, while buyers include auto recyclers, rebuilders, exporters and dealers.
ACV concentrates on dealer-to-dealer wholesale sales. Its services include vehicle inspections, transportation, financing, inventory management and artificial intelligence-based valuation tools.
“This acquisition reflects a significant milestone in our growth strategy by creating an industry-leading end-to-end vehicle remarketing platform that is fully digital,” Copart chief executive officer Jay Adair said.
The combined platform would cover dealer trade-ins, wholesale vehicles, insurance salvage and international resale. Copart and ACV would also combine vehicle-condition data gathered through auctions and inspections.
The transaction comes as growth in Copart’s core auction volumes has slowed. The company reported fourth-quarter revenue of US$1.15 billion, up 2.4 per cent from a year earlier. Quarterly earnings fell to US$0.35 per share from US$0.41.
ACV reported second-quarter revenue of US$214 million, up 10 per cent from a year earlier. About 211,000 vehicles were sold through its marketplace during the quarter, compared with 210,000 a year earlier.
Copart operates more than 250 locations in 11 countries and sold more than four million vehicles during its latest fiscal year. Nine of its yards are in Canada, with locations in Alberta, New Brunswick, Nova Scotia, Ontario and Quebec.
ACV also runs a weekly sale that moves Canadian late-model trucks to U.S. dealers. No changes to either company’s Canadian operations were included in the acquisition announcement.
“Together, we will deliver even more value to our dealer and commercial partners by offering expanded capabilities, including leveraging Copart’s nationwide footprint and a combined demand engine,” ACV chief executive officer George Chamoun said.
The boards of both companies have approved the agreement. Completion requires at least a majority of ACV shares to be tendered, along with regulatory clearance and other closing conditions.
ACV would remain a separate Copart subsidiary under its existing management. Completion is expected by the end of 2026. Copart executives expect the acquisition to begin adding to earnings in fiscal 2028.
