Copart UK Limited has announced that it will acquire D Hales Limited. D Hales Limited is a vehicle salvage disposal company located in Bristol. The company has auto parts facilities in Avonmouth (Bristol), Bedford, Colchester, Gainsborough, and Luton. Copart currently owns thirteen auction and auto parts facilities in the United Kington, and 147 facilities around the world, not including D Hales facilities.
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Nigel Paget, Copart’s UK Managing Director, believes the acquisition will enable the company to expand its UK presence and provide the capacity to respond to the company’s current and expected business in the UK. The acquisition is also expected to reduce the company’s transportation costs and reduce its carbon footprint. The company is anticipating January 22 to be the closing date of the acquisition.
Copart, Inc. (Copart) is a provider of online auctions and vehicle remarketing services in the United States, Canada and the United Kingdom. The Company operates in two segments: North American and UK regions. In United States and Canada, or North America, the Company sells vehicles primarily as an agent and derives revenue primarily from fees paid by vehicle sellers and vehicle buyers, as well as related fees for services, such as towing and storage. In the United Kingdom, Copart operates primarily on a principal basis, purchasing the salvage vehicle outright from the insurance companies and reselling the vehicle for its own account. The Company provides vehicle sellers with a range of services to process and sell vehicles over the Internet through its Virtual Bidding Second Generation Internet auction-style sales technology, which it refers to as VB2.
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