Follow-On Offering

Industrial
Follow-On Offering

Summary

Baird served as a co-manager on this offering.

About

KAR Auction Services, Inc. (“KAR” or the “Company”) (NYSE: KAR), a portfolio company of Kelso & Company, GS Capital Partners, ValueAct Capital and Parthenon recently completed a follow-on offering of 15,000,000 shares of common stock at a price of $25.00 per share, generating gross proceeds of approximately $431 million. All of the shares offered were sold by selling shareholders. The Company will not receive any proceeds from the sale of shares in the offering.

KAR is the holding company for ADESA, Inc. (“ADESA”), Insurance Auto Auctions, Inc. (“IAA”) and Automotive Finance Corporation (“AFC”). ADESA is a leading provider of wholesale used vehicle auctions with 67 North American locations and its subsidiary OPENLANE provides a leading Internet automotive auction platform. IAA is a leading salvage vehicle auction company with 163 sites across North America. AFC is a leading provider of floorplan financing to independent and franchise used vehicle dealers with 104 sites across North America. Together, the Company provides a unique, comprehensive, end-to-end solution for its customers’ remarketing needs. KAR is headquartered in Carmel, Indiana

For additional information about this transaction, please contact:

Paul Rogalski (312) 609-4912
Adam Czaia (414) 298-7358
Jeff Seaman (312) 609-4687
Vinay Ghai +44 (0) 20 7667 8225
Industrial
Follow-On Offering
Date
August 2013
Company
KAR Auction Services, Inc.
Transaction
M&A
Sectors
Industrial
Target Location
North America

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