Copart Expands Operations into Brazil
DALLAS, TX (November 5, 2012) – Copart, Inc. (NASDAQ: CPRT), a global live virtual vehicle auction company, today announced the acquisition of Central de Leiloes LTDA, located in Sao Paulo, Brazil. Central is a leading salvage vehicle auction company currently providing services to many of the leading automobile insurance companies in Brazil. Central serves the Brazilian market through five facilities located in Sao Paulo state. This acquisition provides the Company its first physical presence in South America.
"We are excited to enter the Brazilian market through the acquisition of a company with the status and history of Central de Leiloes," said Copart's CEO, Jay Adair. "The Brazilian automobile insurance market is growing at a robust rate as the economy continues to expand. We are excited to introduce our services and to enhance the existing service levels in Brazil as we have done in the United States, Canada, the United Kingdom and the United Arab Emirates."
"We believe that there are insurance companies throughout the world who can benefit from the unique value we offer," continued Mr. Adair. "We will continue to pursue the opportunity to serve them."
About Copart
Copart sells more than one million vehicles each year through VB3, our patented two-stage internet sales technology.
Members all over the world have come to Copart because of our extensive inventory with more than 50,000 vehicles available for bidding each day. Members can choose from classics, early or late model cars, trucks, SUVs, motorcycles, boats, snowmobiles, jet skis, recreational vehicles, and more. To become a Copart Member, register now.
Copart sells vehicles for a variety of consignors including finance companies, banks, dealers, fleets, rental car companies and the insurance industry. Copart also sells vehicles for the public through its fast, easy service called CopartDirect, and for franchised and independent auto dealers through its Copart Dealer Services (CDS) division. We have more than 140 facilities throughout the United States, Canada, and the United Kingdom, allowing us to be closer to both our Members and Sellers. We utilize a UK website to remarket vehicles in Europe.
Copart was founded in 1982 by CEO Willis J. Johnson, a true American success story. Johnson grew up learning about business from his father – an entrepreneur who dabbled in everything from dairy farming to running restaurants and building houses. Johnson took that entrepreneurial spirit, along with a strong work ethic and a passion for change, and started Copart with just one salvage yard in California. In 1994, he took Copart public (NASDAQ: "CPRT"), raising the money needed to expand the company across the United States. The development of VB2 transformed Copart from a salvage vehicle auction company into a technology company offering a global remarketing platform that links buyers and sellers around the world.
Johnson's vision has helped Copart tear down barriers that make it difficult or time-consuming to sell or buy cars. Copart is also dedicated to something called "legendary service" – service that leaves our customers going "WOW! How did they do that?"
Copart's success has earned us a place on Forbes "200 Best Small Companies" list nine years in a row. Copart was also featured on the television show, World's Best as "The World's Best Remarketing Company."
You have made an excellent choice coming to Copart.com. We hope you take some time to sit back, relax, and take a look at all that Copart and VB3 has to offer. We think you'll find that your experience with us will be "A Bid Above The Rest!"
About Copart UK
Copart UK's nationwide network of 13 facilities the company provides a range of vehicle remarketing services to the UK insurance and automotive industries. Via http://ww2.copart.co.uk/ members can view and bid on more than 5000 salvage and used vehicles each day utilising the companies VB2 technology. To become a member please visit Copart UK.
About Copart UAE
In August 2012 Copart launched its first operation in United Arab Emirates. To find out how to register to bid and win on these vehicles via the UAE VB2 auctions visit www.copart.ae.
About Copart Brazil
On the 5th November 2012, Copart Inc announced the acquisition of Central de Leiloes LTDA, a leading salvage vehicle auction company based in Sao Paulo. From the companies 5 facilities the company provides services to many of Brazil's leading automobile insurance companies. To find out more, go to www.centraldeleiloes.com.br.
About Copart Brazil
In November 2012, Copart Inc completed the acquisition of Wreck Online Marketing WOM a leading European salvage valuation and marketing platform primarily serving the insurance markets in Germany located in Ettlingen, Germany. To view WOM's extensive range of vehicles and to register to bid go to www.wreckonlinemarket.com.
