Layoffs at DealerSocket, Omnitracs Further Evidence Vista Equity is Preparing an IPO for Solera

Layoffs at DealerSocket, Omnitracs Further Evidence Vista Equity is Preparing an IPO for Solera

July 21, 2021 — Following a scuttled SPAC attempt earlier this year for portfolio company Solera Holdings, Vista Equity Partners now is planning for an initial public offering later this year or early next year. The original strategy called for partnering with special purpose acquisition company Apollo Growth Strategic Capital, which had raised $817 million…

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Cliff Banks - The Banks Report

J.D. Power’s Purchase of Darwin Shows a Sector Moving Into Acquisition Phase

July 7, 2021 — After more than $200 million being invested in automotive digital retailing firms the last few years, two large strategic transactions in June signaled the sector has entered the acquisition/consolidation phase. A third deal, set to be announced this morning, pushes the total amount spent on purchases of firms offering digital retailing…

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Why a Cash-for-Clunkers Replay Likely Won’t Happen

Why a Cash-for-Clunkers Replay Likely Won’t Happen

May 15, 2020 — Despite recent speculation the government will enact a “Cash-for-Clunkers” type deal to help spur car sales as it did in 2009, there are several reasons why a similar play this year likely will not happen. The “Cash-for-Clunkers” program — its official name was the Car Allowance Rebate System (CARS) — was…

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Carvana Leads the Charge Public Dealer Groups Rebound

Carvana Leads the Charge Public Dealer Groups Rebound

April 14, 2020 — Online used-vehicle retailer Carvana share price jumped nearly 23% yesterday to $75.28 and is up nearly another $7 in early trading this morning. That’s a 228.6% increase from just over three weeks ago when its stock price hit its 52-week low of $22.91. Each of the eight public dealer group stocks…

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Buy-Sell Activity to Plummet

Buy-Sell Activity to Plummet

March 19, 2020 — Earlier this week, the Asbury Automotive Group (ABG) filed an 8-K document with the SEC informing investors it “intends to continue to evaluate alternatives,” regarding its pending acquisition of 10 dealerships from the Park Place group in Texas. The announcement is not a surprise given what the entire country — and…

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Dealership Buy-Sell Report 2019

Dealership Buy-Sell Report 2019

March 9, 2020 — The number of franchise new-vehicle dealerships involved in buy-sell transactions declined 6.7% in 2019 from 2018. The number of transactions dropped 11.1% over the same period. Despite the decline, 2019 was the third most active year — in the number of rooftops and the number of transactions — over the last…

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2020 Auto Retail Vendor M&A Outlook — Fast & Furious Start With Surprises

2020 Auto Retail Vendor M&A Outlook — Fast & Furious Start With Surprises

February 3, 2020 — A month into the new year and there have been seven investments and acquisitions announced with at least one more expected in the next several days in the auto retail vendor space. The January activity continues the pace set in 2019 in which more than 70 acquisitions and investments were transacted.…

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DealerSocket’s Pending Purchase of Auto/Mate Gives Window into Vista Equity’s Automotive Strategy

DealerSocket’s Pending Purchase of Auto/Mate Gives Window into Vista Equity’s Automotive Strategy

January 8, 2020 — Vista Equity Partners-backed DealerSocket announced this week it has agreed to acquire dealer management software vendor Auto/Mate. The deal (which as of yet, does not have a timeline) provides insight into Vista’s automotive plans, but there are questions still to be answered. Vista Equity is one of the bigger investors in…

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New Era Taking Shape in Auto Retail Vendor M&A Activity

New Era Taking Shape in Auto Retail Vendor M&A Activity

November 1, 2019 — Pivotal. That’s probably the best word to describe vendor mergers and acquisitions and investments among automotive retail vendors in 2019. Aggressive roll-up plays, new directions, and evolving industries forming now will reshape the industry over the next five years. In TBR’s Third Quarter Report on Auto Retail Vendor Merger and Acquisition…

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