CarProof and Hellman & Friedman Partner with a Minority Investment
LONDON, ON, Aug. 19, 2013 /PRNewswire/ - CarProof, Canada's largest and most trusted national vehicle history report provider, today announced the sale of a minority stake in the company to Hellman & Friedman, a San Francisco-based private equity investment firm with offices in London, New York and San Francisco.
"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 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.
"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 honoured 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."
Jefferies LLC, the global investment banking firm, acted as financial advisor to CarProof.
CarProof, a London, Ont.-based company founded in 2000, is the leading provider of the most comprehensive used vehicle history report available in Canada. CarProof's fully 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 U.S. history. In addition to being nominated as one of Canada's 50 Best Managed Companies in 2009, 2010, 2011 (winner) and 2012 (winner), CarProof was also honoured with Deloitte's 2011 and 2012 Technology Fast 500™ and Fast 50™ Awards. For more information about CarProof, visit www.carproof.com.
About Hellman & Friedman
Hellman & Friedman LLC is a leading private equity investment firm with offices in San Francisco, New York and London. Since its founding in 1984, Hellman & Friedman has raised, and through its affiliated funds, managed over $25 billion of committed capital. The firm focuses on investing in superior business franchises and serving as a value-added partner to management in select industries including business & marketing services, insurance, financial services, software, internet & digital media, media, healthcare, and energy & industrials. For more information on Hellman & Friedman, visit www.hf.com.
SOURCE CarProof Vehicle History Reports