Home » Regions
The owner of the used-car history provider Carfax, R.L. Polk and Co is exploring its financial options. The market leader in auto industry data is determining whether it is better to sell the company or offer shares to the market through an initial public offering.
To determine the course of action, the company has engaged the services of investment banking firm Evercore Partners. Another option, aside from the sale or IPO is expansion through acquisitions. According to Polk Vice President Lonnie Miller, "We're exploring strategic growth opportunities. There's no defined time line. There was no catalyst that made this happen. We're trying to see how we can accelerate some of the growth and all the options are on the table. Everything's fair game."
Like Us on Facebook
Industry experts predict that the company can fetch bids up to US$1 billion and many companies have shown interest in purchasing the company. These include Automatic Data Processing, Reynolds and Reynolds, KAR Auction Services, JD Power and Associates of McGraw-Hill Cos.., Inc among others.
© 2013 IVCPOST. All Rights Reserved.