About the Company
Copart, Inc. is an American company specialising in offering online auction and remarketing services of used and wholesale vehicles for a wide range of sellers such as insurance companies, financial institutions, car rental companies and more. Besides operating in the UK, USA and Canada, it has also started its venture in various other countries like Spain, Germany, UAE and more. Copart Inc. shares are traded on NASDAQ under the ticker “CPRT.”
Most vehicles sold by CPRT are either economically irreparable or severely damaged. Some of them are even recovered stolen vehicles for which the owner has already been compensated by the insurance company. Copart, Inc. uses its patented virtual auction technology to process the sale of clean title and salvage vehicles.
Founded in 1982 by Willis Johnson in Vallejo, California, the company is headquartered in Dallas, Texas. In 1994, it went public, with CPRT shares trading on NASDAQ at $12 per share. In 2019, CPRT announced that it had completed the acquisition of Vincent Auto Solutions, a company that provides remarketing services of vehicles in the western part of Kentucky.
Till now, Copart Inc. has acquired 4 companies, and one of the acquisitions was that of a private equity firm. Additionally, it has acquired companies across 3 different states in the USA. The target audiences of CPRT belong mostly to the automotive and business services sector.
Copart, Inc. has a wide range of inventory including some of the latest car models, industrial vehicles, trucks and other types of vehicles. Presently, CPRT auctions more than 1,50,000 vehicles every day. Moreover, it operates across more than 180 locations in 11 different countries.
From August 2019 to January 2020, CPRT was awarded thrice with the LiveHelpNow Challenge award. The company received the award for providing the most efficient customer service in their field.;
| Organisation | Copart Inc |
| Industry | Specialty Business Services |
| HeadQuarters | Dallas, TX |