On 16 December 2016, Vortex Capital Partners, together with Capital A and the management team and founders, acquired CarsOnTheWeb — a leading online B2B transaction platform for car trading and remarketing.
Headquartered in Belgium, CarsOnTheWeb facilitated the efficient remarketing of large volumes of vehicles across Europe, with operations in the Netherlands, Germany, France, Italy, and Spain.
In January 2019, OPENLANE, a leading U.S.-based car auctioneer, announced the acquisition of CarsOnTheWeb, marking a successful exit.
CarsOnTheWeb was sold to OPENLANE in 2018.
"At Cars-on-the-web (now Adesa Europe), we saw the opportunity to become the leading portal for used cars in the B2B segment in Europe. Since day 1, we were on the same page with Vortex. We were able to accelerate growth by defining clear priorities, having financial muscle to invest and by solving our key technology challenges. Acquiring German competitor GW Liste marked a step change in our growth journey and relevance in Europe. Vortex played a pivotal role to prepare and sell the business to KAR, a US based strategic owner."
