July 1 (Reuters) - Private equity firm Apax Partners LLP
said it will sell Trader Corp, a Canadian provider of
advertising for automotive dealers, to peer Thoma Bravo for
about C$1.57 billion ($1.22 billion).
Trader Corp offers digital advertising tools to automotive
dealers and also runs online car marketplaces, including
autoTRADER.ca, which generate 13 million visits each month, the
company on Friday.
The deal is expected to close in the fourth quarter.
Apax acquired Etobicoke, Ontario-based Trader in 2011 from
media and marketing company Yellow Media Inc for C$745 million.
Reuters, citing people familiar with the matter, reported in
June that Apax was exploring a sale of Trader Corp.
Trader Corp and Apax were advised by Goldman Sachs & Co (NYSE:GS), JP
Morgan and Royal Bank of Canada. Simpson Thacher & Bartlett was
the legal adviser and PricewaterhouseCoopers the financial
adviser.
($1 = 1.29 Canadian dollars)