Simpson Thacher is representing AutoScout24, the leading pan-European online automotive market place, in its announced acquisition of TRADER Corporation (“TRADER Canada”) from Thoma Bravo. In conjunction with this acquisition, funds affiliated with existing majority shareholder Hellman & Friedman (“H&F”) will make a meaningful incremental equity investment in AutoScout24. The transaction is expected to close in the fourth quarter of 2024.
TRADER Canada operates Canada's leading online automotive marketplaces, English-language AutoTrader.ca and French-language AutoHebdo.net, with 26 million monthly visits, more than 450,000 vehicle listings, and 5,000 dealer partners. Founded in 1975 and headquartered in Toronto, the company also provides several automotive dealer software solutions under the AutoSync brand and operates Dealertrack, the leading Canadian portal connecting automotive dealers and lenders, as well as Collateral Management Solutions, the primary provider of lien and registration services, recovery services, and insolvency management solutions to Canadian lenders.
AutoScout24 is the largest pan-European online car market, with over 2 million vehicle listings, around 30 million users per month and more than 43,000 dealer partners. As a comprehensive marketplace for mobility, AutoScout24 is making targeted investments in the growth areas of leasing, car subscriptions, electromobility and online car purchases. With this acquisition, AutoScout24 extends its presence outside of Europe and strengthens its position as a leading global online automotive marketplace.
The Simpson Thacher team includes: Anthony Vernace, Mark Myott, Jacob Gindt, Jamie Lee, Marissa Train and Sabrina Suen (M&A); David Rubinsky, Jeannine McSweeney, Joshua Stephens and Abigail Janik (ECEB); Mick Tuesley, Jennifer Ho, Sean Boyle and Tommy Lopez (FDI); Sara Razi, Preston Miller, Allison Davido (Antitrust); Lori Lesser and Ron Ben-Yehuda (IP & Data Privacy); Brian Steinhardt, Ben Persina and Gordon Lee (Credit); and Russell Light, Andrew Mandelbaum and Jiha Min (Tax).