CarProof, Canada’s largest vehicle history report provider, has sold a minority interest in the company to Hellman & Friedman.
“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 the largest provider of comprehensive used vehicle history reports in Canada. CarProof’s bilingual vehicle history reports rely on accurate and live real-time data to provide consumers with a complete history of their vehicle including accident information, cross-Canada lien search information and full US history. The company was founded in 2000 and is based in London, Ontario (www.carproof.com).
“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 honored 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.”
Hellman & Friedman invests from $200 million to $750 million in companies across a range of industries including energy & industrials, software, business & marketing services, internet & digital media, financial services, insurance, media, and healthcare. Founded in 1984, the firm has raised and managed over $25 billion of committed capital and invested in over 60 companies. The firm is currently investing its sixth fund, with $8.4 billion of capital commitments. Hellman & Friedman is based in San Francisco with additional offices in London and New York (www.hf.com).
“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.
Jefferies LLC acted as financial advisor to CarProof.
© 2013 PEPD • Private Equity’s Leading News Magazine • 8-19-13
