M&A Deal Summary

Parthenon Capital Acquires IAA

On May 26, 2005, private equity firm Parthenon Capital acquired automotive company IAA for 400M USD

Acquisition Highlights
  • This is Parthenon Capital’s 1st transaction in the Automotive sector.
  • This is Parthenon Capital’s 2nd largest (disclosed) transaction.
  • This is Parthenon Capital’s 13th transaction in the United States.
  • This is Parthenon Capital’s 2nd transaction in Illinois.
Investment Fate
  • IAA was sold to a strategic buyer in 2019.
  • IAA was sold to a strategic buyer in 2023.

M&A Deal Summary
Date 2005-05-26
Target IAA
Sector Automotive
Buyer(s) Parthenon Capital
Deal Type Going Private
Deal Value 400M USD

Target

IAA

Westchester, Illinois, United States
website
IAA is a provider of automotive salvage auction and claims processing services. The company's platform facilitates the marketing and sale of total loss, damaged, and low-value vehicles for a range of sellers. IAA was founded in 1982 and is based in Westchester, Illinois.

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Buyer(S) 1

Buyer

Parthenon Capital

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1998
PE ASSETS 5.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Parthenon Capital is a private equity firm focused on investing in service-based businesses with recurring revenues, defensible niches and competitive advantages. Parthenon looks for businesses valued between $75 and $750 million operating in sectors that include business services, financial services, manufacturing, technology-enabled services, and distribution/logistics. Prospective transaction types include recapitalizations, management buyouts, acquisitions, privatizations, and growth capital financings. Parthenon Capital was formed in 1998 and has offices in Boston, Massachusetts and San Francisco, California.

DEAL STATS #
Overall 13 of 60
Sector (Automotive) 1 of 1
Type (Going Private) 2 of 3
State (Illinois) 2 of 4
Country (United States) 13 of 59
Year (2005) 2 of 3
Size (of disclosed) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-04-01 KAR Global

Carmel, Indiana, United States

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.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-06-10 Rackable Systems

Fremont, California, United States

Rackable Systems, Inc. is a provider of Eco-Logical(TM) servers and storage for medium- to large-scale data center deployments. Rackable's products, available for purchase or lease, are designed to provide benefits in the areas of density, thermal efficiency, serviceability, power distribution, data center mobility and remote management.

Sell -
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