Copart Announces Investment in Heavy Equipment Auction Company Purple Wave

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[{"type":"text","content":"DALLAS, Oct. 10, 2023 /PRNewswire/ -- Copart, Inc. (NASDAQ: CPRT) a global leader in online auto auctions, today announced a new strategic investment and partnership with Purple Wave, Inc., an online offsite heavy equipment auction company. \n\nFounded in 2000, Purple Wave is a pioneer in the online equipment auction industry, facilitating the sale of construction, agriculture and fleet equipment directly from a seller's location through its no-reserve auction platform on purplewave.com.\n\"We have long admired Purple Wave as a leader in its space,\" said Jeff Liaw, Co-CEO of Copart. \"Their digital-first approach and strong community of sellers and buyers distinguishes them in their industry and has empowered their outsized growth for years. Through our strategic investment and partnership, we will leverage our areas of expertise for the benefit of our respective marketplaces. And perhaps most critically, we share a fundamental approach to business – a commitment to creating long-term value for our industry participants and our shareholders through excellence and innovation,\".\n\"This is a pivotal moment for Purple Wave,\" said Aaron McKee, CEO of Purple Wave. \"We are amplifying the strengths of both companies through this partnership and believe Copart will help accelerate Purple Wave's expansion from a regional business into a global enterprise.\"\nAbout CopartCopart, Inc., founded in 1982, is a global leader in online vehicle auctions. Copart's innovative technology and online auction platform links sellers to more than 750,000 members in over 190 countries. Copart offers services to process and sell vehicles to dealers, dismantlers, rebuilders, exporters, and to the general public. Copart sells vehicles on behalf of insurance companies, banks, finance companies, charities, fleet operators, dealers, vehicle rental companies, and individuals. With operations at over 200 locations in 11 countries, Copart has more than 250,000 vehicles available online every day. Copart currently operates in the United States (Copart.com), Canada (Copart.ca), the United Kingdom (Copart.co.uk), Brazil (Copart.com.br), the Republic of Ireland (Copart.ie), Germany (Copart.de), Finland (Copart.fi), the United Arab Emirates, Oman and Bahrain (Copartmea.com), and Spain (Copart.es). For more information, or to become a Member, visit Copart.com/regis...

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