American Auto Auction Group, a portfolio company of Baird Capital Partners, has acquired Auctions In Motion, a provider of dealer consignment auction services.
American Auto Auction Group (AAAG) was established by Baird Capital Partners in early 2010 in partnership with industry veterans to execute an acquisition platform strategy in the whole car auction market. Auto auctions create a transaction marketplace for finance companies, fleets, wholesalers, independent dealers, and franchise dealers to sell and purchase vehicles. AAAG is based in Charleston, SC (www.americanautoauctiongroup.com).
Auctions In Motion is a dealer consignment auction offering traditional auction services. The company is based in Westlake Village, CA (www.auctionsinmotion.com). This is the sixth add-on acquisition completed for AAAG since its founding in 2010. In addition to Auctions In Motion, AAAG has acquired Badger State (Fond Du Lac, WI); Charleston Auto Auction (Moncks Corner, SC); Mid-South Auto Auction (Pearl, MS); Texas Lone Star Auto Auction (Carrollton, TX); and Your Auction (Tampa, FL).
“The acquisition of Auctions In Motion is another step toward becoming a national full-service dealer-centric remarketing platform,” said Tom Costello, a Principal of Baird Capital Partners. ”We continue to be very interested in partnering with other independent auctions as we build AAAG’s market share across the country.”
Baird Capital Partners invests in lower middle-market companies in the manufactured products, healthcare and business services sectors. The firm invests from $15 million to $35 million in companies with enterprise values of $25 to $125 million and EBITDAs greater than $5 million. Baird Capital Partners was founded in 1989 and is based in Chicago, IL (www.bairdcapitalpartners.com).
© 2012 PEPD • Private Equity’s Leading News Magazine • 10-11-12
