Apax X LP, in which Altaroc Odyssey 2021 is invested, announced on July 25, 2022 that it had entered into a definitive agreement to acquire a majority stake in Pickles, Australia's leading marketplace for vehicles, industrial equipment and salvage goods.
A family-owned company founded in 1964, Pickles employs over 1,000 people across 27 subsidiaries in Australia. In 2021, more than 220,000 motor vehicles, trucks and equipment were sold on its marketplace, with gross sales in excess of A$2.4 billion.
The Apax teams will be able to capitalize on the expertise acquired in online marketplaces (notably TradeMe in New Zealand, KAR Global in the United States and Idealista in Spain) to support and accelerate Pickles' growth, notably through the implementation of an ambitious digital transformation plan.
For more information: https://www.apax.com/news-views/funds-advised-by-apax -to-buy-majority-stake-in-pickles
