CarLotz Names Becca Polak as Chief Commercial Officer and General Counsel
RICHMOND, Va.---CarLotz, Inc., (“CarLotz” or the “Company”), a leading consignment-to-retail used vehicle marketplace, which recently announced it would become a public company via a merger that is subject to certain closing conditions with special purpose acquisition company Acamar Partners Acquisition Corp. (“Acamar” – Nasdaq: ACAM), has named industry veteran, Becca Polak as the company’s first Chief Commercial Officer and General Counsel, effective October 30, 2020. Polak reports to Michael Bor, co-founder and CEO of CarLotz.
Polak brings decades of business development, executive leadership, and legal experience from industry leaders such as KAR Global, parent company of ADESA and TradeRev. She joins the existing CarLotz senior management team and will drive commercialization initiatives at CarLotz, including the national buildout of the CarLotz hub network, corporate vehicle sourcing partner development and new client acquisition.
Through these initiatives, Polak seeks to reinforce the value the Company brings to commercial consignors through the Company’s Retail RemarketingTM channel, including increased financial returns, ease of selling similar to physical or digital auctions and advanced remarketing business intelligence and data analytics. As General Counsel of CarLotz, Polak will manage the Company’s legal operations.
“On behalf of the entire CarLotz team, I am delighted to welcome Becca to the team,” said Michael Bor, CEO of CarLotz. “I’ve known Becca and admired her work at KAR Global and TradeRev for many years. Her experience as an entrepreneurial business leader with deep knowledge of the used vehicle and remarketing industry, will be instrumental in driving ongoing growth for CarLotz, as we look toward national expansion and the Company’s next phase.”
“I couldn’t be more excited to be joining a pioneering company at such a pivotal moment in its growth trajectory,” said Becca Polak. “I look forward to working closely with Mike and the exceptionally talented team at CarLotz, to expanding and scaling the business, and to providing commercial consignors with more value for their vehicles together with a frictionless customer-centric experience.”
Prior to joining CarLotz, Polak served as President of TradeRev, a digital platform that facilitates live, dealer-to-dealer vehicle auctions and is a subsidiary of KAR Global. While leading TradeRev, Polak successfully diversified and enhanced TradeRev’s product and service offerings, expanded its market footprint coast-to-coast in the U.S. and Canada and increased revenue per vehicle sold all with a customer-focused approach. Concurrent to her role as TradeRev President and since 2007, Polak led the legal operations for KAR Global, including providing legal counsel on all strategic initiatives, business, and operational matters, including M&A, capital transactions and international expansion. Polak also serves on several board of directors, including AAA Hoosier Motor Club and 2022 Indy College Football Playoffs, and has been the recipient of awards such as “Woman in Remarketing Honoree”: (Auto Remarketing) and “Woman of Influence Honoree”: (Indianapolis Business Journal).
About CarLotz, Inc.
CarLotz is a used vehicle consignment and Retail Remarketing™ business that provides our corporate vehicle sourcing partners and retail sellers of used vehicles with the ability to access the previously unavailable retail sales channel while simultaneously providing buyers with prices that are, on average, below those of traditional dealerships. Our mission is to create the world’s greatest vehicle buying and selling experience. We operate a technology-enabled buying, sourcing and selling model that offers a seamless omni-channel experience and comprehensive selection of vehicles while allowing for a fully contactless end-to-end e-commerce interface that enables no hassle buying and selling. Our proprietary Retail Remarketing™ technology provides our corporate vehicle sourcing partners with real-time performance metrics and data analytics along with custom business intelligence reporting that enables price and vehicle triage optimization between the wholesale and retail channel. Through our marketplace model, we generate significant value for both sellers and buyers through price, selection and experience. For more information, visit www.carlotz.com.
About Acamar Partners Acquisition Corp.
Acamar Partners Acquisition Corp. is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Acamar Partners Acquisition Corp. raised $305.6 million in its initial public offering in February 2019 (and subsequent exercise of the underwriters’ over-allotment option). The company’s securities are quoted on Nasdaq under the ticker symbols ACAM, ACAMW and ACAMU. For more information, visit www.acamarpartners.com.
Important Additional Information and Where to Find It
This communication is being made in respect of the proposed merger transaction involving Acamar Partners and CarLotz. Acamar Partners has filed a registration statement on Form S-4 with the Securities and Exchange Commission (the “SEC”), which includes a preliminary proxy statement of Acamar Partners, a preliminary prospectus of Acamar Partners and a preliminary consent solicitation statement of CarLotz, and will file other documents with the SEC regarding the proposed transaction. A definitive proxy statement/prospectus/consent solicitation statement will also be sent to the stockholders of Acamar Partners and CarLotz, seeking any required stockholder approval. Before making any voting or investment decision, investors and security holders of Acamar Partners and CarLotz are urged to carefully read the entire registration statement and proxy statement/prospectus/consent solicitation statement, when they become available, and any other relevant documents filed with the SEC, as well as any amendments or supplements to these documents, because they will contain important information about the proposed transaction. The documents filed by Acamar Partners with the SEC may be obtained free of charge at the SEC’s website at www.sec.gov. In addition, the documents filed by Acamar Partners may be obtained free of charge from Acamar Partners at www.acamarpartners.com. Alternatively, these documents, when available, can be obtained free of charge from Acamar Partners upon written request to Acamar Partners Acquisition Corp., 1450 Brickell Avenue, Suite 2130, Miami, Florida 33131, or by calling 786-264-6680.
Participants in the Solicitation
Acamar Partners, CarLotz and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the stockholders of Acamar Partner in connection with the proposed merger. Information regarding Acamar Partners’ directors and executive officers is contained in Acamar Partners’ Annual Report on Form 10-K for the year ended December 31, 2019, which has been filed with the SEC and is available at the SEC website at www.sec.gov.