CARPROOF and Hellman & Friedman Partner with a Minority Investment
LONDON, ON, Aug. 19, 2013 – CARPROOF, Canada's largest and most trusted national vehicle history report provider, today announced the sale of a minority stake in the company to Hellman & Friedman, a San Francisco-based private equity investment firm with offices in London, New York and San Francisco.
"Hellman & Friedman is thrilled to invest in and partner with CARPROOF," said Ed Woiteshek from Hellman & Friedman. "We recognize that the vehicle history report industry is one with very strong potential and see this partnership as an incredible opportunity for both companies. We are enthusiastic about CARPROOF's strategic vision for the future and are excited to support the company in its next phase of growth."
"CARPROOF is at the intersection of two areas of expertise for Hellman & Friedman - investing in world class data and information services businesses and partnering with exceptional business leaders like Paul Antony and his co-founders through minority investments," said Patrick Healy, Deputy CEO of Hellman & Friedman.
"Hellman & Friedman has a vast amount of experience across multiple industries and a fantastic track record of partnering with and scaling outstanding franchises," said Paul Antony, President and CEO at CARPROOF. "It was important to us to find a partner that would help us grow our company both strategically and organically while maintaining our core philosophy and corporate culture. We feel honoured to work with Hellman & Friedman, a company that has such an impressive pedigree. Leveraging each other's strengths and relationships will create tremendous value for our customers and partners."
Jefferies LLC, the global investment banking firm, acted as financial advisor to CARPROOF.
For more information: Hellman & Friedman Ian Campbell, Mary Beth Grover, Joe Hixson The Abernathy MacGregor Group (212) 371-5999 email@example.com /firstname.lastname@example.org /email@example.com
CARPROOF, a unit of IHS Markit (Nasdaq: INFO), is a world-class data company that creates insight through information for the automotive industry. Offering solutions in vehicle history, appraisal, valuation and more, the CARPROOF name is synonymous with trusted, impartial and comprehensive used vehicle data. CARPROOF’s products are used by dealerships, vehicle manufacturers, consumers, major auctions, governments, insurance providers and police agencies across Canada, to help users buy, sell and appraise vehicles with full transparency. Based in London, Ontario and founded in 2000, CARPROOF has been named one of Canada’s 50 Best Managed Companies, and was also honoured with Deloitte’s 2013 Technology Fast 50™ and Fast 500™ awards. For more information about CARPROOF, visit www.carproof.com.
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