Copart, Inc. (NASDAQ: CPRT) today announced a new strategic investment and partnership with Purple Wave, Inc., an online offsite heavy equipment auction company.
Founded in 2000, Purple Wave is a pioneer in the online equipment auction industry, facilitating the sale of construction, agriculture and fleet equipment directly from a seller’s location through its no-reserve auction platform on purplewave.com.
“We have long admired Purple Wave as a leader in its space,” said Jeff Liaw, Co-CEO of Copart. “Their digital-first approach and strong community of sellers and buyers distinguishes them in their industry and has empowered their outsized growth for years. Through
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