# EDGAR Filing Document

**Accession Number:** 0001816546
**File Stem:** 0001193125-25-234485
**Filing Date:** 2025-10
**Character Count:** 21735
**Document Hash:** b446b3fa1658f45e8a0c92727237bdeb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-234485.hdr.sgml**: 20251008

**ACCESSION NUMBER**: 0001193125-25-234485

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20251008

**DATE AS OF CHANGE**: 20251008

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** OPENLANE, Inc.
- **CENTRAL INDEX KEY:** 0001395942
- **STANDARD INDUSTRIAL CLASSIFICATION:** RETAIL-AUTO DEALERS & GASOLINE STATIONS [5500]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 208744739
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-85322
- **FILM NUMBER:** 251382302

**BUSINESS ADDRESS:**
- **STREET 1:** 11299 N. ILLINOIS STREET
- **CITY:** CARMEL
- **STATE:** IN
- **ZIP:** 46032
- **BUSINESS PHONE:** (800) 923-3725

**MAIL ADDRESS:**
- **STREET 1:** 11299 N. ILLINOIS STREET
- **CITY:** CARMEL
- **STATE:** IN
- **ZIP:** 46032

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** KAR Auction Services, Inc.
- **DATE OF NAME CHANGE:** 20091103

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** KAR Holdings, Inc.
- **DATE OF NAME CHANGE:** 20070409
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Ignition Acquisition Holdings GP LLC
- **CENTRAL INDEX KEY:** 0001816546

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**BUSINESS ADDRESS:**
- **STREET 1:** C/O APAX PARTNERS US LLC
- **STREET 2:** 601 LEXINGTON AVENUE, 58TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
- **BUSINESS PHONE:** 212-753-6300

**MAIL ADDRESS:**
- **STREET 1:** C/O APAX PARTNERS US LLC
- **STREET 2:** 601 LEXINGTON AVENUE, 58TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 3)**

**OPENLANE, Inc. (f/k/a KAR Auction Services, Inc.)**

*(Name of Issuer)*

**Common Stock, par value $0.01 per share**

*(Title of Class of Securities)*

**48238T109**

*(CUSIP Number)*

**Roy Mackenzie**<br>c/o Apax Partners US, LLC<br>601 Lexington Avenue, 58th Floor<br>New York NY 10022<br>(212) 753-6300

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**10/08/2025**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **48238T109** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Ignition Acquisition Holdings LP** | Name of reporting person<br>**Ignition Acquisition Holdings LP** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**16243541.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**16243541.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**16243541.00** | Aggregate amount beneficially owned by each reporting person<br>**16243541.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**13.3%** | Percent of class represented by amount in Row (11)<br>**13.3%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**PN** | Type of Reporting Person (See Instructions)<br>**PN** | |

---

| **CUSIP No.** | **48238T109** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Ignition Acquisition Holdings GP LLC** | Name of reporting person<br>**Ignition Acquisition Holdings GP LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**16243541.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**16243541.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**16243541.00** | Aggregate amount beneficially owned by each reporting person<br>**16243541.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**13.3%** | Percent of class represented by amount in Row (11)<br>**13.3%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

| **CUSIP No.** | **48238T109** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Ignition Parent LP** | Name of reporting person<br>**Ignition Parent LP** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**16243541.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**16243541.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**16243541.00** | Aggregate amount beneficially owned by each reporting person<br>**16243541.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**13.3%** | Percent of class represented by amount in Row (11)<br>**13.3%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**PN** | Type of Reporting Person (See Instructions)<br>**PN** | |

---

| **CUSIP No.** | **48238T109** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Ignition GP LLC** | Name of reporting person<br>**Ignition GP LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**16243541.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**16243541.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**16243541.00** | Aggregate amount beneficially owned by each reporting person<br>**16243541.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**13.3%** | Percent of class represented by amount in Row (11)<br>**13.3%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

| **CUSIP No.** | **48238T109** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Ignition Topco Ltd** | Name of reporting person<br>**Ignition Topco Ltd** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**Y7** | Citizenship or place of organization<br>**Y7** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**16243541.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**16243541.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**16243541.00** | Aggregate amount beneficially owned by each reporting person<br>**16243541.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**13.3%** | Percent of class represented by amount in Row (11)<br>**13.3%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**CO** | Type of Reporting Person (See Instructions)<br>**CO** | |

---

| **CUSIP No.** | **48238T109** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Apax X GP Co. Limited** | Name of reporting person<br>**Apax X GP Co. Limited** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**Y7** | Citizenship or place of organization<br>**Y7** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**16243541.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**16243541.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**16243541.00** | Aggregate amount beneficially owned by each reporting person<br>**16243541.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**13.3%** | Percent of class represented by amount in Row (11)<br>**13.3%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**CO** | Type of Reporting Person (See Instructions)<br>**CO** | |

---

| **CUSIP No.** | **48238T109** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Apax Guernsey (Holdco) PCC Limited Apax X Cell** | Name of reporting person<br>**Apax Guernsey (Holdco) PCC Limited Apax X Cell** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**Y7** | Citizenship or place of organization<br>**Y7** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**16243541.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**16243541.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**16243541.00** | Aggregate amount beneficially owned by each reporting person<br>**16243541.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**13.3%** | Percent of class represented by amount in Row (11)<br>**13.3%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Common Stock, par value $0.01 per share

**(b) Name of Issuer:**
OPENLANE, Inc. (f/k/a KAR Auction Services, Inc.)

**(c) Address of Issuer's Principal Executive Offices:**
11299 N. Illinois Street, Suite 500, Carmel, IN, 46032

This Amendment No. 3 ("Amendment No. 3") amends and supplements the Schedule 13D filed with the United States Securities and Exchange Commission (the "SEC") on July 2, 2020, as amended by Amendment No. 1 filed with the SEC on September 14, 2020, as amended by Amendment No. 2 filed with the SEC on September 11, 2025 (as so amended, the "Schedule 13D") with respect to the common stock, par value $0.01 per share ("Common Stock") of OPENLANE, Inc. (f/k/a KAR Auction Services, Inc.), a Delaware corporation (the "Issuer"). The Schedule 13D is filed jointly on behalf (i) Ignition Acquisition Holdings LP, (ii) Ignition Acquisition Holdings GP LLC, (iii) Ignition Parent LP, (iv) Ignition GP LLC, (v) Ignition Topco Ltd, (vi), Apax X GP Co. Limited, and (vii) Apax Guernsey (Holdco) PCC Limited Apax X Cell (collectively, the "Reporting Persons"). Capitalized terms used in this Amendment No. 3 but not otherwise defined herein have the meanings set forth in the Schedule 13D.

**Item 4. Purpose of Transaction**

Item 4 of the Schedule 13D is hereby amended and supplemented by the following:

On September 9, 2025, the Issuer entered into a Repurchase Agreement with Ignition Acquisition Holdings LP, pursuant to which the Issuer agreed to purchase 288,322 shares of Series A Preferred Stock from Ignition Acquisition Holdings LP in exchange for aggregate cash consideration equal to $482,431,500.  Such transaction closed on October 8, 2025.

**Item 5. Interest in Securities of the Issuer**

**(a)**
Items 5(a)-(c) of the Schedule 13D are hereby amended and restated as follows:

Each of the Reporting Persons may be deemed to beneficially own the 288,323 shares of Series A Preferred Stock held by Ignition Acquisition Holdings LP, which, subject to the below, are initially convertible into 16,243,541 shares of Common Stock representing 13.3% of the outstanding Common Stock (calculated based on 106,303,637 shares of common stock outstanding as of July 31, 2025 , plus the 16,243,541 shares of Common Stock issuable upon conversion of 288,323 shares of Series A Preferred Stock of the Issuer held by Ignition Acquisition Holdings LP). The amount of Common Stock reported as beneficially owned herein includes Series A Preferred Stock received as dividends but excludes accrued dividends not yet declared by the Issuer pursuant to the terms of the Certificate of Designations.

**(b)**
See Item 5(a) above.

**(c)**
Except as set forth in this Schedule 13D, none of the Reporting Persons nor, to the best knowledge of the Reporting Persons, without independent verification, any person named in Exhibit 2 hereof, has effected any transaction in the Common Stock during the past 60 days.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Ignition Acquisition Holdings LP

**Signature:** /s/ Steven Kooyers

**Name/Title:** Steven Kooyers, Treasurer and Secretary of Ignition Acquisition Holdings GP LLC, its general partner

**Date:** 10/08/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Ignition Acquisition Holdings GP LLC

**Signature:** /s/ Steven Kooyers

**Name/Title:** Steven Kooyers, Treasurer and Secretary

**Date:** 10/08/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Ignition Parent LP

**Signature:** /s/ Steven Kooyers

**Name/Title:** Steven Kooyers, Treasurer and Secretary of Ignition GP LLC, its general partner

**Date:** 10/08/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Ignition GP LLC

**Signature:** /s/ Steven Kooyers

**Name/Title:** Steven Kooyers, Treasurer and Secretary

**Date:** 10/08/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Ignition Topco Ltd

**Signature:** /s/ Mark Babbe

**Name/Title:** Mark Babbe, Director

**Date:** 10/08/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Apax X GP Co. Limited

**Signature:** /s/ Jeremy Latham

**Name/Title:** Jeremy Latham, Director

**Date:** 10/08/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Apax Guernsey (Holdco) PCC Limited Apax X Cell

**Signature:** /s/ Simon March

**Name/Title:** Simon March, Authorised Signatory for and on behalf of Apax Partners Guernsey Limited as Company Secretary to Apax Guernsey (Holdco) PCC Limited

**Date:** 10/08/2025