Simpson Thacher is representing affiliates of Apax Partners in connection with their entry into a definitive agreement to sell approximately 50% of Apax Partners’ outstanding shares of Series A Convertible Preferred Stock of OPENLANE, Inc. (“OPENLANE”) in a transaction valued at approximately $482 million. The transaction is subject to customary closing conditions and expected to close as soon as practicable after September 30, 2025, and prior to October 20, 2025.
OPENLANE is a leading operator of digital marketplaces for wholesale used vehicles.
The Simpson Thacher team included Ryerson Symons, Jakob Rendtorff, Keegan Lopez, Luca Tomasi and Daniel Tiley (M&A); Ken Wallach and Daniel Webb (Capital Markets); Brian Steinhardt and Adam Moss (Credit); Sophie Staples and Lina Pan (Tax); and James Rapp (Public Company Advisory Practice).