Apax to sell Trader Corp to Thoma Bravo for about $1.22 bln

Thoma Bravo has agreed to acquire Trader Corp, a Canadian car marketplace and software solutions provider, from Apax Partners. The price of the transaction is about C$1.575 billion (about $1.22 billion).

The deal is expected to be completed by the fourth quarter of this year.

Apax acquired Trader in 2011 from Yellow Media Inc for $574.8 million, according to Reuters.

Trader Corp said its online car sites, which list over 450,000 vehicles, attract 13 million visits per month and are used regularly by over 5,000 dealers.

Goldman Sachs, JP Morgan and Royal Bank of Canada provided M&A advice to Trader and Apax while PricewaterhouseCoopers served as financial/tax adviser.