Apax Partners, a private equity firm, has purchased Pickles, a marketplace for vehicles.
Pickles is an Australian marketplace for used vehicles, salvage, industrial, agricultural and general goods.
“This has not been an easy decision for our family, but we are excited that the capital injection will accelerate our growth and digitization plans,” says Tim Pickles, chairman of Pickles. “Having dealt with multiple potential buyers over the years, it became clear to us that Apax is a strong natural fit for Pickles. They bring global experience of digital marketplaces, the capacity to drive us forward, and they share our dedication to providing our clients with an unparalleled level of service.”