Apax sells stake in Auto Trader for £76.4m

PRIVATE equity firm Apax, who took Manchester-based digital vehicle seller Auto Trader public last year, has completed exit after selling its remaining stake in the business for £76.4m.

It controlled its stake through the two holding companies Crystal A and Crystal B. It sold a tranche in February as well, as part of its staged exit.

Auto Trader’s shares are currently trading strongly and are well above the float price.