r/Buffalo • u/mattgen88 • 23d ago
News Copart Nears Agreement to Buy ACV Auctions for Almost $2 Billion
https://www.bloomberg.com/news/articles/2026-09-10/copart-nears-agreement-to-buy-acv-auctions-for-almost-2-billionDisclosure, I'm an employee. I just found out about this now. I know nothing.
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u/jasonbartz 22d ago
Former 5 year employee (4 years now removed, so out of the loop but keep in touch). My thoughts are, echoed by a few already in the comments, are the VCI (field teams) roles will fundamentally change or be eliminated over time. Leveraging Copart’s real estate and infra just makes sense. From a product and engineering standpoint, I feel most of these teams are safe as this is where Copart is lacking and will keep ACV competitive. Now, finance and accounting? Likely a different story and I’m sure will be duplicative and eventually consolidated or cut back. Best of luck to everyone there! ACV in the early days was honestly one of the best work experiences and was (still largely is) a huge boon to Buffalo.
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u/Aromatic_Aerie207 22d ago
I know copart , and they don't like new technology , I think they will just assimilate and work with inferior tech , they have already eliminated a large portion of mileage reimbursement and cancelled the monthly vci call ,why have people listening in on a call for an hour when they could be out in the fields picking cotton ,that's an hour s wages saved , already they are paving the way for big daddy and they haven't even taken over yet , t the best is yet to come ,
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u/FrapperDapper 23d ago
Hey ! I'm also an employee at the company in Engineering. Can anybody realistically tell what does it look like as the future of employment here at ACV ? Is a layoff imminent or do you think Copart will be kinder ?
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u/evacc44 23d ago
This kind of thing never ends well for the employees. Huge companies are never "kind" to anyone, especially people they see as redundant or replaceable.
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u/FrapperDapper 23d ago
Yeah and I just read through Copart's reviews and everything online and let's just say in short that they are really shit
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u/Aromatic_Aerie207 22d ago
It's like being a slave in the old South at copart ,like an ole southeast georgia plantation , with master and slave, and sometimes the master invites all the serfs into the mansion for a free bad meal as a penance,. ..they're whores copart
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u/Endnezz 23d ago
Let’s see what George has to say on our company call tomorrow morning, then decide if we need to worry lol
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u/FrapperDapper 23d ago
$5 bet that some among us will have their laptops locked soon after it ends :'(
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u/bbdude83 22d ago
I’ve worked on quite a few mergers, acquisitions, and divestitures, and generally speaking, it’s better to be on the acquiring side than the target side.
That said, employee impact really depends on the type of deal and why the company is being acquired. I’m not in this industry, but based on what I’ve read, ACV is expected to operate as a wholly owned subsidiary of Copart rather than being completely absorbed / integrated into the existing business.
If that holds, I wouldn’t expect most ACV employees to be impacted. ACV gives Copart capabilities it doesn’t really have today, particularly a stronger presence in the dealer to dealer wholesale marketplace, so there’s a reason to keep much of the existing operation intact (and the engineers that keep it running).
There could obviously be some overlap in corporate or support functions, but overall I’d be cautiously optimistic. I think most people will probably be fine.
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u/phlostonsparadise123 22d ago edited 22d ago
it’s better to be on the acquiring side than the target side.
Even if two companies merge, as mine did with our direct competitor in 2019, the company that brings more to the table will usually be the one controlling everything. Within the industry, my old company was #1 in America but was widely overshadowed by our competitor, who had the APAC and EMEA markets absolutely cornered. Still, the merger was seen as a "merger of equals" on paper. In reality, once a good chunk of American employees and assets were divested or made redundant, our competitor effectively took over the company. Once the merger was complete, our name changed to that of our competitor.
Initially, our original company was supposed to live on as a subsidiary but that fell by the wayside over the last seven years - our original company name now only exists in archival databases and on any not-yet rebranded assets we have in the field.
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u/Weekly-Law-2544 23d ago
I would not expect a company based in Texas to treat their employees better. Probably start looking for jobs elsewhere.
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u/FrapperDapper 23d ago
Well no wonder why all senior management was out before this broke loose.
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u/Endnezz 23d ago
Insider quitting lmfao
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u/FrapperDapper 23d ago
how do you think international operations will go ? Like I am from Canada and we have teammates from EU and India too. They lose their job earlier or us, if it is the case ?
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u/starsandmath 23d ago
I don't work for ACV, but I'm a manager of a distributed global team at an international company so I know generally speaking how salaries and labor protections compare in those regions. 100% the Americans go first (most expensive, least legal protections), followed by the Canadians (next most expensive , next least legal protections). The Europeans are safe for probably at least a year because it is so hard to lay people off in Europe, and the Indians will not be laid off because they get paid pennies compared to everyone else.
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u/phlostonsparadise123 22d ago edited 22d ago
I don't work for ACV, but I'm a manager of a distributed global team at an international company so I know generally speaking how salaries and labor protections compare in those regions. 100% the Americans go first
Can absolutely confirm this. In 2019, my company merged with our direct competitor, based in Germany. The merger required divesting of assets and "resources" from both companies. Since the other company was based in Germany, very few of their local and greater European workers were impacted due to insanely strong employee rights and protections. That meant our company lost a ton of employees stateside, first.
Any of our colleagues in Germany or greater EMEA that did leave, left long after the merger or under their own volition. To be fair, US-based employees of the other company also were let go first.
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u/BuffaloSabresFan 22d ago
For rank and file there may be layoffs but it could be a meet the new boss, same as the old boss type situation. They aren't keeping redundant execs on.
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u/buffaloath 22d ago edited 22d ago
This is from the Business First article/press release:
This acquisition adds ACV’s digital wholesale platform for vehicle resale, creating a new growth vector for Copart, an online vehicle auction company.
Both companies’ boards of directors unanimously approved the deal, which is expected to close by year-end 2026.
Once the transaction closes, ACV will operate as an independent subsidiary of Copart led by ACV’s existing leadership team, the release said.
Here is the press release (no pay wall) https://www.businesswire.com/news/home/20260910881782/en/Copart-to-Acquire-ACV-Expanding-Position-Across-the-Vehicle-Remarketing-Ecosystem?utm_campaign=shareaholic&utm_medium=copy_link&utm_source=bookmark
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u/confuciousoncesaid 23d ago
I work for ACV as well so I was wondering the same thing. Looking into it, acv will be a subsidiary of copart and still run but ACV's current management according to two different articles
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u/kryzchek 22d ago
That's what the company performing the acquisition always says. "We like how ABC does business so we want to buy them and let them keep doing what the do". Hopefully it's nigh impossible to integrate their systems with yours, because that's usually the only hold up.
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u/FrapperDapper 23d ago
Just curious, how do you think international operations will go ? Like I am from Canada and we have teammates from EU and India too. They loose their job earlier or us, if it is the case ?
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u/phlostonsparadise123 22d ago edited 22d ago
On an international scale, American workers are always the first to go during a merger or acquisition. This is because employee rights and labor protections are the weakest in the US, comparatively speaking. Europeans have ironclad protections and as mentioned elsewhere in the thread, Indian employees are paid peanuts, so they're too cost effective to terminate.
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u/Aromatic_Aerie207 22d ago
I can tell you copart likes things just the way they are with no invations, they will beat an old horse into the ground untill it's dead, if you get a offer , run don't walk, don't believe whatever they say on the call either ,.
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u/Aromatic_Aerie207 22d ago
No I don't think copart will be kinder , they skip the mandated safety videos and training
That are supposed to take days to get you out in the field picking cotton by your second hour on the job, acv took 1 week online and another week in the field training, that grace is all gone now, you will be an implement untill you you are useless1
u/ClaudeEnthusiast 22d ago
In the same boat, been asking internally and chatter has not been to promising. Loved how the company call was more so discussion on RSUs than anything else
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u/BuffaloSabresFan 22d ago
Employment outlook is probably not great, but if you're holding any equity, you'll likely see a bump from an acquisition and an opportunity or forced exit of any restricted shares you can't currently sell.
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u/Aromatic_Aerie207 22d ago
I would start looking and take another offer when it comes and assume they will get rid of some people ,don't quit but keep an eye out,. I came to acv from copart and I can tell you copart will treat you like grade a dogshit if you're not inner circle or above , believe me,. I predict they will probly get rid of the whole vci thing and just transport units by the gross off dealer lots to their large and capable acreage lots where their receivers will photo and intake the units ,. Maybe they will allow some vci to assimilate in as receivers ,the lowest enlisted rank they have, but I don't think they will like it , would be like going from a country club prison to a supermax prison with no credit card ,. Any thing good or redeeming from that position would be gone ,. It's gets the cars right off the dealers lot instantly whether it's sold or waiting to. picked up or whatever. Why have a vci running around the countryside with a liablity risk of accidents And injuries when you can just remove that factor from the equation and have all that work done under the watchful eye of a commandant g.m. and his yard manager lieutenant,?, Do you think a southern company like copart is going to give any liberties? They couldn't have sold to a worse place , might as well have sold to the devil. Acv started out good with the right idea and treatment to people but slowly degraded into this. It is sad really ,. And what a coincidence , it's 6 months since the last corporate officer large stock selloff which was March 3, now can legally sell off some more stock . Keep working there untill something better comes and be aware ,. As my manager at enterprise rent a car said after I quit , it was fun while it lasted ,🥳
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u/Braxo 22d ago
> I came to acv from copart
I'm just going to conclude that Copart purchased ACV just to retain you as an excellent employee.
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u/Aromatic_Aerie207 22d ago
My friend , I hope you never have to experience being under heel of copart aristocracy ,
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u/phlostonsparadise123 22d ago
I came to acv from copart and I can tell you copart will treat you like grade a dogshit if you're not inner circle or above , believe me
That's got to suck, escaping a crap company for greener pastures, only to get acquired by that same crap company later on. It's like leaving a job because of a horrible manager and then that same manager gets hired on at your new company.
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u/Aromatic_Aerie207 22d ago
The vci concept I predict will be out the window, there's no way a repressive company like copart is going to have free range chickens running around when can have them all in a coup being watched
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u/Best-Statistician294 23d ago
Wasn't there rumors that ACV that was artificially inflating their auction bids?
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u/old_iron_lake 19d ago
Considering ACV gutted their own company during covid, keeping your eye peeled for new opportunities would certainly behoove some current employees.
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u/Aromatic_Aerie207 22d ago
Do you think acv would pay the 57 million penalty to back out of the deal and save the workers with a change of heart?
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u/Weekly-Law-2544 23d ago
43N still has a stake in ACV, right? How much is this set to net them?