SAN FRANCISCO – Thoma Bravo, LLC, a leading private equity investment firm, announced the acquisition of TRADER Corporation (TRADER), Canada’s leading digital automotive marketplace and software solutions provider, from funds advised by Apax Partners for approximately C$1.575 billion. The transaction, which is subject to customary closing conditions, is expected to close by the fourth quarter of 2016.
“We’re extremely impressed by TRADER’s growth into the largest and most trusted digital automotive marketplace in Canada," said Holden Spaht, a managing partner at Thoma Bravo. “We look forward to partnering with Sebastian Baldwin and the entire TRADER team in their commitment to innovation and accelerating the use of TRADER’s current and future software solutions.”
TRADER Corporation is Canada’s largest and most trusted digital automotive marketplace and provides the most comprehensive set of marketing software solutions to Canadian automotive dealers. Its market leading online properties -- autoTRADER.ca™, autoHEBDO.net™ and Autos.ca -- attract 13 million visits per month and are regularly relied upon by over 5,000 dealers, listing over 450,000 vehicles. In addition, the company provides software solutions that enable its dealer customers to make smarter and faster business, inventory, and marketing decisions.
Sebastian Baldwin, TRADER’s President and CEO, said: “Thoma Bravo’s track record of success in working with and growing software solutions companies makes them the ideal partner for the next phase of TRADER’s growth. We look forward to working closely with them to continue strengthening TRADER’s market leading position.”
“TRADER is well positioned to continue providing high return-on-investment products to its customer base,” said Arvindh Kumar, a principal at Thoma Bravo. "We're excited to collaborate with TRADER to expand its product portfolio organically and through strategic investments and acquisitions.”
Peter Stefanski, a vice president at Thoma Bravo added: "We have spent several years evaluating the broader automotive technology sector. Our partnership with TRADER is an excellent opportunity to invest in a mission-critical franchise we believe will benefit from the growth in automotive online media advertising.”
Kirkland & Ellis LLP and McMillan LLP served as legal advisors to Thoma Bravo. Evercore served as M&A advisor.
About Thoma Bravo, LLC
Thoma Bravo is a leading private equity investment firm building on a 30+ year history of providing equity and strategic support to experienced management teams and growing companies. The firm seeks to create value by collaborating with company management to improve business operations and provide capital to support growth initiatives. Thoma Bravo invests with a particular focus on application and infrastructure software and technology enabled services. The firm currently manages a series of private equity funds representing more than $16 billion of equity commitments. For more information, visit www.thomabravo.com.
TRADER is the largest and most trusted digital automotive marketplace in Canada and provides the most comprehensive set of marketing software solutions to Canadian automotive dealers. The company is positioned at the center of the car buying process in Canada, connecting consumers, dealers and OEMs. Its marketplace, led by the flagship autoTRADER.ca website and mobile applications, brings together Canada’s largest audience of in-market car shoppers with Canada’s most comprehensive and detailed inventory of new and used vehicle listings. TRADER’s marketing software solutions enable dealers to manage their websites, digital marketing campaigns and inventory. The company’s online marketplaces and destinations include: autoTRADER.ca™, autoHEBDO.net™ and Autos.ca. Please visit www.tradercorporation.com for more information.
LANE (for Thoma Bravo)