KAR Global

Ticker
$KAR
Industry
Auto Dealer
Type
Balance Sheet Transform
Rating
Not Rated
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About KAR KAR Auction Services, Inc. d/b/a KAR Global (NYSE: KAR), provides sellers and buyers across the global wholesale used vehicle industry with innovative, technology-driven remarketing solutions. KAR Global's unique end-to-end platform supports whole car, financing, logistics and other ancillary and related services, including the sale of nearly 2.6 million units valued at over $40 billion through our auctions in 2021. Our integrated physical, online and mobile marketplaces reduce risk, improve transparency and streamline transactions for customers in about 75 countries. Headquartered in Carmel, Indiana, KAR Global has employees across the United States, Canada, Europe, Mexico, Uruguay and the Philippines.

Notes

Major divestiture — selling US physical auction business to Carvana for $2.2bn — sale price is 22x estimated EBITDA of $100m — this will leave KAR essentially unlevered and trading at < 7x EBITDA