CarLotz Midlothian location. Photo courtesy CarLotz
Nearing its 10-year anniversary, CarLotz, a used-cars consignment company founded in Chesterfield County, went public on Friday.
In October 2020, CarLotz first announced it would merge with special purpose acquisition company Miami-based Acamar Partners Acquisition Corp. — a deal that was approved by stockholders Jan. 8 and closed Friday. The company, which is valued at $827 million, is now listed on the Nasdaq under the ticker symbol LOTZ.
Founded in 2011 by Richmond-area entrepreneurs Michael Bor, Aaron Montgomery and Will Boland, CarLotz opened its first store in Midlothian and later expanded to Henrico County, Chesapeake and Richmond, where its current headquarters are located.
