The ABL team was led by Corporate and M&A partner Jonathan Wenig and supported by senior associate Vidushee Deora, lawyer Anna Sandiford, and law graduate Kaitie Boyd. Corporate partner Jeremy Lanzer ran the equity capital markets component of the transaction, and Banking and Finance partner, Genevieve Sexton led the debt finance component.
The acquisition represents a strategically compelling opportunity for carsales to further build out its international scale and industry diversification in the United States. The transaction also involved a $600 million equity raise.
In the announcement, carsales Managing Director and CEO Cameron McIntyre commented: “This acquisition is expected to accelerate our international growth strategy by providing us with exposure to a significant market in the United States across attractive non-automotive verticals. We are excited by the opportunity this investment provides carsales and look forward to working closely with Trader Interactive in helping them achieve their objectives and delivering shareholder value.”
Jonathan Wenig also commented on the acquisition: “We were delighted to be involved in this strategically important acquisition for carsales. carsales is a world leading Australian corporate, that is taking opportunities to deploy its expertise across the globe. The carsales team is superb at what they do, and we enjoy and cherish playing some part in their success.”
Trader Interactive provides digital marketing solutions and services across the commercial truck, recreational vehicle, power sports and equipment industries.
About Arnold Bloch Leibler
Arnold Bloch Leibler is a premium Australian commercial law firm renowned for advising clients on their most important transactions, commercial issues and disputes. From offices in Melbourne and Sydney, the firm provides advice to a diverse range of entrepreneurial Australian listed companies, private businesses, high-net-worth individuals and international corporations. The firm also has a dedicated public interest practice providing advice to charities and not-for-profit organisations relating to significant legal, social, environmental and cultural issues.