Adesa acquisition by private equity funds expected to close in second quarter

By Jennifer Chiou

New York, Jan. 24 - Adesa, Inc. announced it expects its acquisition by a group of private equity funds to close in the second quarter after the Federal Trade Commission granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.

The equity funds include Kelso & Co., GS Capital Partners, an affiliate of Goldman Sachs, ValueAct Capital and Parthenon Capital.

The company added that the transaction remains subject to stockholder approval among other conditions.

Adesa is a Carmel, Ind.-based provider of wholesale vehicle auctions and used vehicle dealer floorplan financing.

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