ACV acquires Irish start-up Drive Inc.
![](https://www.autoremarketing.com/wp-content/uploads/2024/02/ACV-at-NADA-2024.jpg)
ACV booth at NADA Show 2024 in Las Vegas. Photo by Nick Zulovich.
ACV’s continued growth has taken it into Ireland.
The Buffalo, N.Y.-based online auto auction platform and wholesale service provider has acquired Irish start-up Drive Inc., a deal announced on LinkedIn by Drive co-founders Conor O’Boyle and Shane Ennis.
Drive operates wholesale digital marketplace TradeBid and Nevo, a dedicated EV platform for consumers.
“We couldn’t be more excited for this next chapter,” Ennis said in a LinkedIn post. “It’s rare to find great people who see the world so similar to how you do and are very much a future version of what your company aspires to be — but we found that in Buffalo, New York.”
The Dublin-based company was founded in 2019 and currently employs a staff of about 40. In 2022, Drive raised $1.1 million from investors, including Irish venture capital firm Seod Ventures.
In his LinkedIn post, O’Boyle said Drive was drawn by the similarities between the two companies and their vision.
“Right from the start of our conversations with ACV, the exciting thing was that it was like looking at a future version of ourselves,” he said. “We share the same passion for technology and a people-first culture.”
ACV, founded in 2014 as a “disruptor” in the auto auction industry, went public in 2021. It now employs more than 2,000 and reported $481 million in revenues for 2023. In its most recent earnings call, the company projected 2024 revenues to surpass $600 million.
Matheson, a law firm based in Dublin, advised ACV through this transaction.
“We were delighted to support ACV Auctions on this strategic acquisition. We look forward to working with ACV Auctions in the future, as it continues to grow its European business,” Matheson corporate M&A partner Brian McCloskey said in a news release.