Copart has officially completed its acquisition of ACV Auctions, the online vehicle auction company said Friday.

In a news release, Copart CEO Jay Adair said, “We are pleased to complete the acquisition of ACV, which is an important milestone for Copart as we continue to deliver on our growth strategy.

“With ACV now part of the Copart family, we have established an industry-leading, fully complete remarketing platform spanning dealer trade-ins, wholesale remarketing, salvage disposition, and international scale,” Adair said. “Together we bring stronger capabilities, great efficiency, and an expansive footprint, and we’re excited about what we will be able to deliver for our customers moving forward.”

Copart had announced Sept. 10 it signed a definitive agreement to acquire ACV in a deal valued at approximately $1.9 billion.

In Friday’s news release, Copart said it completed the cash tender offer, through its wholly owned subsidiary Apple Merger Sub, Inc., to acquire all of the issued and outstanding shares of ACV common stock for $10.50/share.

As of 5 p.m. (ET) Thursday, 116,818,409 shares of ACV common stock were validly tendered (and not validly withdrawn), representing approximately 68.43% of the total number of  the company’s common stock.

“All such shares have been accepted for payment in accordance with the terms of the tender offer, and Copart, on behalf of Purchaser, will promptly pay for such shares,” Copart said in the release.

“Following the completion of the tender offer, Copart completed the acquisition of ACV through the merger of Purchaser with ACV. As a result of the merger, each share of ACV common stock issued and outstanding and not tendered in the tender offer was cancelled and converted into the right to receive the same $10.50 per share in cash, without interest, subject to any applicable withholding taxes, paid in the tender offer.”

ACV’s common stock has stopped trading on the New York Stock Exchange and ACV is now an independent subsidiary of Copart. It will be led by ACV’s existing leadership team.

“ACV’s mission is not complete and we will continue to revolutionize the used vehicle sector,” ACV CEO George Chamoun said in a release.

“Joining with Copart amplifies this mission, supercharging our growth, pace of innovation and global reach. By combining forces and tapping into Copart’s massive national physical presence alongside a global buyer-seller network—we will unlock unprecedented value for our commercial and dealership partners, ensuring every vehicle finds its ideal buyer. I want to extend my heartfelt thanks to our exceptional ACV team and we are thrilled to embark on this next chapter with the Copart team.”

In a post to its LinkedIn account, ACV said: “It’s official: Copart’s acquisition of ACV is complete. This event marks a major milestone for ACV, and we couldn’t be more excited about what comes next … From day one, ACV set out to build a more trusted and efficient way to buy, sell, and manage vehicles. Together, our team turned that idea into the industry’s leading digital automotive marketplace. Joining Copart lets us take that mission further.

“Copart brings a global buyer network, physical infrastructure, and a logistics network second to none. ACV brings our digital marketplace, inspection capabilities, data, technology, and the people who built it all. ACV will operate as an independent subsidiary of Copart,” ACV continued.

“Our priorities haven’t changed: serve our customers, build great products, and keep moving fast. At the end of the day, ACV is a people business, and this milestone belongs to every teammate who got us here Thank you to our customers, partners, and the ACV team. Looking forward to our next chapters with Copart.”