Copart Agrees to Acquire ACV for $1.9 Billion

Copart has agreed to acquire ACV Auctions for $10.50 per share in cash, valuing the digital vehicle marketplace at approximately $1.9 billion and representing a premium of about 45% to ACV’s unaffected share price. The transaction would expand Copart beyond its traditional salvage-auction business into dealer-to-dealer wholesale vehicle sales, creating an end-to-end remarketing platform covering trade-ins, wholesale auctions, salvage disposition and international resale. Copart plans to fund the deal with cash on hand, and both companies’ boards unanimously approved it, with closing expected by the end of 2026 subject to regulatory and other customary conditions. ACV would continue operating as an independent subsidiary, while the companies expect commercial opportunities, technology and data benefits, and cost and revenue synergies; Copart expects the deal to be earnings-neutral initially and accretive beginning in fiscal 2028. The agreement includes support from stockholders representing about 4.1% of ACV shares, a majority-tender condition and specified termination fees. Investors have expressed concern about the size of the cash outlay, integration risks and pressure on Copart’s cash flow, although the company’s profitability and low leverage provide financial capacity for the acquisition.