For Immediate Release
Executive Vice President and Chief Financial Officer
KAR Holdings, Inc. Files Registration Statement for Initial Public Offering
Carmel, Ind. — KAR Holdings, Inc., a leading provider of wholesale used vehicle and salvage auction services in North America, announced today that it has filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering of its common stock. The Company intends to apply to list its common stock on the New York Stock Exchange. The timing of the initial public offering depends upon several factors, including market conditions.
Goldman, Sachs & Co. will act as an underwriter of the proposed offering. The public offering will be made only by means of a prospectus which, when available, may be obtained by contacting Goldman, Sachs & Co., Prospectus Department, 85 Broad Street, New York, NY 10004.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy these securities be accepted prior to the time the registration statement becomes effective. The number of shares to be offered and the price range for the offering have not been determined.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.
About KAR Holdings, Inc.
KAR Holdings, Inc. is the holding company for ADESA, Inc., a leading provider of wholesale used vehicle auctions whose operations span North America with 62 used vehicle sites, Insurance Auto Auctions, Inc., a leading salvage auto auction company whose operations span North America with 152 sites and Automotive Finance Corporation, a leading provider of floorplan financing to independent and franchised used vehicle dealers with 87 sites across North America.