M&A Deal Summary

Cars.com Acquires D2C Media

On November 2, 2023, Cars.com acquired marketing company D2C Media from Housatonic Partners for 105M CAD

Acquisition Highlights
  • This is Cars.com’s 2nd transaction in the Marketing sector.
  • This is Cars.com’s largest (disclosed) transaction.
  • This is Cars.com’s 1st transaction in Canada.
  • This is Cars.com’s 1st transaction in Alberta.

M&A Deal Summary
Date 2023-11-02
Target D2C Media
Sector Marketing
Buyer(s) Cars.com
Sellers(s) Housatonic Partners
Deal Type Add-on Acquisition
Deal Value 105M CAD

Target

D2C Media

Edmonton, Alberta, Canada
website
D2C Media provides auto dealerships with digital marketing and lead management solutions, including websites, search engine & social media marketing solutions, customer relationship management software, outsourced virtual business development centers, and reputation management services. The company also owns and operates its media network, including AutoAubaine.com and AutoKMH.com. D2C Media was founded in 2003 and is based in Montreal, Quebec.

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Buyer(S) 1

Buyer

Cars.com

Chicago, Illinois, United States

website

Category Company
Founded 1998
Sector E-Commerce
Employees1,700
Revenue 654M USD (2022)
DESCRIPTION

Cars.com is an online destination that offers information from experts and consumers to help car shoppers and owners buy, sell and service their vehicles. Cars.com offers millions of new and used vehicle listings, expert and consumer reviews, side-by-side comparison, build and price tools, unbiased editorial content, service and repair resources, multiple options to sell a vehicle, and much more. Cars.com was incorporated in 1998 and is headquartered in Chicago, Illinois.

DEAL STATS #
Overall 8 of 8
Sector (Marketing) 2 of 2
Type (Add-on Acquisition) 8 of 8
State (Alberta) 1 of 1
Country (Canada) 1 of 1
Year (2023) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-08 Accu-Trade

Manheim, Pennsylvania, United States

Accu-Trade provides dealers with vehicle valuation and appraisal technology and connects consumers to the best buyer for their vehicle. The platform is based on VIN-specific historic information and condition. The company's valuation platform is fueled by market-correct data from Galves, which has been a provider of wholesale vehicle auction information. Galves has been trusted and used by thousands of dealers to buy and sell more vehicles. The company also includes MADE Logistics, an early-stage dealer and wholesaler logistics platform to transport vehicles. Accu-Trade was formed in 2015 and is based in Manheim, Pennsylvania.

Buy $65M

Seller(S) 1

SELLER

Housatonic Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1994
PE ASSETS 1.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Housatonic Partners is a private equity firm focused on investing in growing, profitable companies with a preference for businesses generating recurring revenues. Target sectors include services, media, and communications. Housatonic looks to commit $10 to $30 million per transaction to support buyouts and recapitalizations. Prospective companies generally have high gross margins and moderate capital intensity. Housatonic was formed in 1994 and has offices in Boston, Massachusetts and San Francisco, California.

DEAL STATS #
Overall 44 of 44
Sector (Marketing) 1 of 1
Type (Add-on Acquisition) 20 of 20
State (Alberta) 1 of 1
Country (Canada) 1 of 1
Year (2023) 1 of 1
Size (of disclosed) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-13 KeepingCount

Boise, Idaho, United States

KeepingCount provides accounting, bookkeeping, tax advisory, and CFO services to businesses in a variety of industry verticals such as real estate, life sciences, e-commerce, and more. KeepingCount was founded in 2022 and is based in Boise, Idaho.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-15 eCard Systems

Brentwood, Tennessee, United States

eCard Systems is a provider of outsourced gift card solutions for more than 100,000 merchants in the restaurant, retail, and hospitality industries in the U.S. and abroad. The company provides a comprehensive suite of gift card products and processing services, with easy-to-use online ordering and high-touch customer service. eCard Systems is based in Brentwood, Tennessee.

Buy -
Mergr

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