M&A Deal Summary

KAR Global Acquires ADESA

On April 30, 2007, KAR Global acquired business services company ADESA from ALLETE

Acquisition Highlights
  • This is KAR Global’s 1st transaction in the Business Services sector.
  • This is KAR Global’s 1st transaction in the United States.
  • This is KAR Global’s 1st transaction in Indiana.
Investment Fate
  • ADESA was divested to a consortium of strategic buyers in 2022 for 2.2B USD.

M&A Deal Summary
Date 2007-04-30
Target ADESA
Sector Business Services
Buyer(s) KAR Global
Sellers(s) ALLETE
Deal Type Divestiture

Target

ADESA

Carmel, Indiana, United States
website
ADESA
ADESA is a provider of whole car auctions and salvage vehicle auctions in North America. Through the largest network of automobile auction locations in North America, the Company facilitates the sale of used and salvage vehicles through physical, online, and hybrid auctions. ADESA is also a provider of short-term inventory-secured financing, known as floorplan financing, primarily to independent used vehicle dealers. ADESA is based in Carmel, Indiana.

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Buyer(S) 1

Buyer

KAR Global

Carmel, Indiana, United States

website

Category Company
Founded 2006
Sector Business Services
Employees3,960
Revenue 1.5B USD (2022)
DESCRIPTION

KAR Global 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. Its integrated physical, online and mobile marketplaces reduce risk, improve transparency, and streamline transactions for customers in more than 80 countries. KAR Global was formed in 2006 and is headquartered in Carmel, Indiana.

DEAL STATS #
Overall 1 of 16
Sector (Business Services) 1 of 3
Type (Divestiture) 1 of 3
State (Indiana) 1 of 1
Country (United States) 1 of 12
Year (2007) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-12-26 Dent Demon

Matthews,, North Carolina, United States

Dent Demon, engages in paintless dent removal (PDR) services for automobiles.

Buy -

Seller(S) 1

SELLER

ALLETE

Duluth, Minnesota, United States

website

Category Company
Founded 1906
Sector Utilities
Employees1,467
Revenue 1.6B USD (2022)
DESCRIPTION
Entrance to ALLETE's corporate headquarters in downtown Duluth, Minnesota.
Entrance to ALLETE's corporate headquarters in downtown Duluth, Minnesota.

ALLETE is an energy provider in the upper Midwest US. Subsidiaries include Minnesota Power, BNI Coal in North Dakota, ALLETE Clean Energy, Superior Water, Light & Power, ALLETE Renewable Resources, and ALLETE Properties. ALLETE was founded in 1906 and is based in Duluth, Minnesota.

DEAL STATS #
Overall 2 of 3
Sector (Business Services) 1 of 1
Type (Divestiture) 2 of 3
State (Indiana) 1 of 1
Country (United States) 2 of 3
Year (2007) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-06-01 Heater Utilities

Cary, North Carolina, United States

Heater Utilities Inc. owns and operates small water systems. The company provides water supply and wastewater treatment services.

Sell $48M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-10 U.S. Water Services

St. Michael, Minnesota, United States

U.S. Water Services is a provider of integrated industrial solutions for water treatment. U.S. Water Services was founded in 1997 and is based in St. Michael, Minnesota.

Buy -
Mergr

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