Copart (CPRT) Invests in Purple Wave

Copart, Inc. (NASDAQ: CPRT) a global leader in online auto auctions, today announced a new strategic investment and partnership with Purple Wave, Inc., an online offsite heavy equipment auction company.

Founded in 2000, Purple Wave is a pioneer in the online equipment auction industry, facilitating the sale of construction, agriculture and fleet equipment directly from a seller's location through its no-reserve auction platform on purplewave.com.

"We have long admired Purple Wave as a leader in its space," said Jeff Liaw, Co-CEO of Copart. "Their digital-first approach and strong community of sellers and buyers distinguishes them in their industry and has empowered their outsized growth for years. Through our strategic investment and partnership, we will leverage our areas of expertise for the benefit of our respective marketplaces. And perhaps most critically, we share a fundamental approach to business – a commitment to creating long-term value for our industry participants and our shareholders through excellence and innovation,".

"This is a pivotal moment for Purple Wave," said Aaron McKee, CEO of Purple Wave. "We are amplifying the strengths of both companies through this partnership and believe Copart will help accelerate Purple Wave's expansion from a regional business into a global enterprise."

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