The XLerate Group has made its third acquisition in just over two months.
The company said Friday it has purchased Clark County Auto Auction.
The Jeffersonville, Ind., auction becomes the 15th auction brand in the XLerate family and the first in the group’s home state of Indiana.
XLerate, which is headquartered in the Indianapolis suburb of Carmel, now has fixed-stie and mobile sales in California, Florida, Georgia, Illinois, Indiana, Louisiana, Michigan, New Mexico, Pennsylvania, South Carolina, Texas, and Wisconsin.
The group’s new addition is helmed by the third generation of the Fetter family.
“The Fetter family has built an outstanding sale and legacy over the last four decades, capped off by the construction of a state-of-the-art auction campus in 2018,” XLerate chief executive officer Cam Hitchcock said in a news release.
“Paul Fetter will continue the family legacy and will run CCAA in his capacity as general manager,” Hitchcock said. “CCAA has a very significant market presence in Indiana, Ohio, Kentucky, and Illinois. We look forward to helping Paul and his team continue to grow volumes at CCAA.”
Principal owner Matt Fetter added: “For 40 years, our business has had the pleasure of serving auto dealers in our region. Joining XLerate group and utilizing their many resources will put CCAA in the best position to continue to serve and grow long term. Their commitment to the industry and focus on customer service very much aligns with our own views, which makes Xlerate a great fit for CCAA.”
The acquisition of CCAA continues a busy summer on both sides of the buy-sell front for XLerate.
A week after announcing new majority ownership and less than two months after buying Liquid Motors, the company has expanded its reach into Louisiana last week, as XLerate announced Thursday it had purchased Greater Shreveport-Bossier Auto Auction.
“We are pleased to officially welcome Matt, Paul and CCAA into the XLerate family,” XLerate executive vice president Chuck Tapp said. “Paul is a proven operator with 35-plus years at CCAA and a laser focus on customer service. He has an intimate knowledge of CCAA’s regional customer base and their expectations.”
Source : AutoFinanceNews