Eurazeo is selling its remaining 51% stake in Trader Interactive, a platform of branded marketplaces in the United States providing digital marketing solutions and services across the commercial truck, recreational vehicle, power sports and equipment industries, to carsales, an Australia-based online automotive advertising platform with a growing presence in Latin America and Asia.
This transaction follows the acquisition by carsales in August 2021 of 49% of Trader Interactive.
carsales, which operates several marketplaces across both the automotive and specialty vehicle segments, brings to Trader its extensive knowledge in building and developing scaled online marketplaces.
Under this agreement, Trader Interactive is valued at $1.897 billionn corresponding to 25,0x CY 2021 Adjusted EBITDA. With this operation, Eurazeo and its affiliates show a return on a realised basis of 3.1x their original investment.
The sale of the 51% stake represents pre-tax proceeds of ~$350 million for Eurazeo and its affiliates, of which $238 million for Eurazeo.