Copart, Inc. (CPRT) saw its stock edge up 0.02% to $27.75 on Friday, October 16, following the completion of its acquisition of ACV Auctions, a wholesale automotive marketplace. The company acquired ACV Auctions for $10.50 per share in cash, expanding its vehicle remarketing operations. CPRT shares briefly climbed above $28.25 before retreating amid volatile trading.

Copart announced the completion of the acquisition on October 16, 2026. The transaction combines Copart's online vehicle auction operations with ACV's established wholesale automotive marketplace. The combined business now covers dealer trade-ins, wholesale vehicle sales, salvage auctions, and international remarketing services, extending Copart's reach across more stages of the used vehicle market. For a company long known for its salvage auctions, the deal brings dealer-facing wholesale transactions — a distinct segment of the resale chain with its own sellers, buyers, and pricing dynamics — under the same corporate roof.

The acquisition supports Copart's strategy to expand its presence across the used vehicle market. ACV brings additional technology, dealership relationships, and wholesale auction capabilities to the company's existing operations. These assets strengthen Copart's ability to serve commercial sellers, dealerships, and vehicle buyers across different markets.

Copart Chief Executive Officer Jay Adair identified the transaction as an important step in the company's growth strategy. The company expects the combination to improve operational efficiency and broaden its vehicle remarketing services. Copart also plans to use its physical infrastructure and international network to support ACV's existing business.

Completion Through a $10.50-Per-Share Tender Offer

Copart completed the acquisition through Apple Merger Sub, its wholly owned subsidiary, following a cash tender offer. The deal was structured as a tender offer followed by a merger — a common two-step approach in public company acquisitions that allows a buyer to secure majority control through shareholder tenders before absorbing the remaining shares. The company offered ACV shareholders $10.50 per share, without interest and subject to applicable withholding taxes. The tender offer expired at 5:00 p.m. Eastern Time on October 15, 2026.

Shareholders tendered 116,818,409 ACV common shares before the deadline, representing approximately 68.43% of outstanding shares. Copart accepted the tendered shares and arranged payment under the transaction's agreed terms. Subsequently, the company completed a merger to acquire the remaining ACV shares at the same cash price.

Following the merger, ACV shares stopped trading on the New York Stock Exchange, ending the company's run as a publicly traded stock and leaving former ACV shareholders with cash proceeds rather than shares in the combined business. ACV will continue operating as an independent Copart subsidiary under its existing leadership team. ACV Chief Executive Officer George Chamoun will lead the business as it expands its operations.

Broader Market Reach Through ACV's Dealer Network

The acquisition expands Copart's services beyond its established salvage vehicle auction business. ACV contributes wholesale remarketing technology and dealership connections that complement Copart's national facilities and global marketplace, adding wholesale dealer auctions to Copart's global vehicle remarketing network. Together, these operations provide additional channels for vehicle sales across different stages of the automotive market — from a dealership moving trade-in inventory through wholesale auctions to cross-border transactions handled through Copart's international remarketing services.

Copart retained Evercore as financial advisor and Wilson Sonsini Goodrich & Rosati as legal counsel for the transaction. J.P. Morgan Securities advised ACV and provided a fairness opinion during the deal, while Davis Polk & Wardwell represented ACV on legal matters. Both companies also retained separate strategic communications advisors.

The completed transaction gives Copart a broader platform for handling used vehicles and dealer inventory. ACV's continued operation as an independent subsidiary preserves its existing management structure and commercial relationships. Copart now enters its next growth phase with expanded wholesale capabilities and a larger vehicle remarketing network. The integration story is the one to watch next: how ACV's wholesale marketplace and Copart's auction facilities begin operating as a single platform under Chamoun's continued leadership.