Goldman Sachs Capital Partners, the private equity arm of the Wall Street bank, has agreed to buy a $3.7bn (€2.8bn) vehicle auction company alongside three other firms. The bank's buyout arm was involved in deals worth $17.9bn in the week running up to Christmas.
GS Capital Partners joined Kelso, ValueAct Capital and Parthenon Capital in paying $3.7bn for vehicle auction company Adesa. The buyout firms will merge Adesa with a current Kelso and Parthenon portfolio company, Insurance Auto Auctions. The price includes refinancing of $700m of debt.