- The sale represents a 3.1 times return on a realized basis for Eurazeo and its affiliates
- Eurazeo invested in Trader Interactive in June 2017
- Carsales is the largest online automotive advertising platform in Australia
Carsales is to take 100% ownership of Trader Interactive after Eurazio agreed to sell its 51% stake in the company.
Carsales, the largest online automotive advertising platform in Australia, made an initial investment in Trader Interactive in August 2021, buying a 49% stake in the company.
Trader Interactive is a provider of online advertising and marketing services primarily across recreational, powersports and commercial industries, headquartered in Virginia Beach.
Eurazeo’s sale of its 51% stake at a valuation of $1.897 billion represents pre-tax proceeds of $350 million for Eurazio and its affiliates, a 3.1 times return on a realized basis. The French global investor, with $32 billion in assets under management, and its partner, Goldman Sachs Asset Management, has been invested in Trader since June 2017.
“Over the last five years, Eurazeo has supported Trader Interactive in its journey to become a leading platform of branded marketplaces in the United States,” said Marc Frappier, member of the executive board and managing partner at Eurazio. “This investment exemplifies our strategy to select and support market leaders across attractive industries supported by strong fundamentals and clear growth drivers.”
Carsales, which operates several marketplaces in both the automotive and specialty vehicle segments, brings to Trader its knowledge in building and developing scaled online marketplaces.