CARMEL, Ind. -

Two people familiar with the matter told Reuters Wednesday that KAR Auction Services has held exploratory talks with private equity firms about a potential leveraged buyout.

The sources indicated the deal could exceed $4 billion.

Sources in the report explained that Kelso & Co, Goldman Sachs Capital Partners, ValueAct Capital LLC and Parthenon Capital LLC — which collectively own about 78 percent of KAR — have reached out to other buyout firms to discuss a sale, according to this online report.

KAR became a private company back in 2007 and returned as a publicly traded operation two years later.

In its most recent financial performance report, the company kept its performance expectations for the remainder of the year unchanged as its second-quarter adjusted EBITDA decreased 3 percent.

A 3-percent jump in revenue wasn’t enough to produce a gain as KAR indicated its second-quarter adjusted EBITDA settled at $128.1 million, down from the year-ago level of $132.1 million.

The company’s second-quarter revenue rose to $487.9 million, up from a year earlier when it was $472.7 million.

When looking at its net income performance, KAR highlighted a whopping 267 increase to $23.9 million or $0.17 per diluted share, as compared with a net loss of $14.3 million or $0.11 per diluted share in the second quarter of last year.

Stay tuned to Auto Remarketing and its media properties for more details as they emerge.

Fatal Accident at ADESA Toronto

In other news coming out of the company this week, there was a fatal accident at ADESA Toronto on Wednesday.

Earlier today, a company spokesperson at ADESA provided Auto Remarketing with the following statement on the matter.

“There was an accident yesterday at ADESA Toronto. We are currently working closely with local authorities on this matter and providing our full cooperation,” the company said.

“As indicated in news reports, a customer died as a result of injuries suffered in the accident. ADESA extends our sincerest condolences to his family,” it continued.