America’s Auto Auction, a wholesale automobile auction company and portfolio company of Trinity Hunt Partners since April 2015, has acquired Auction Broadcasting Company.
Auction Broadcasting Company (ABC) is a full service auto auction company offering transportation, full and partial reconditioning, telemarketing, in-house restaurants, auctioneers and ringman (bid spotters), and on-line bidding capability. The company is family-owned and was founded by Mike Hockett in 2000. ABC is headquartered in Indianapolis with auction facilities in Baton Rouge, LA; Birmingham, AL; Bowling Green, KT; Toledo, OH; Lancaster, PA; St. Louis, MO; and Virginia Beach, VA (www.auctionbroadcasting.com).
America’s Auto Auction (AAA) specializes in wholesale auctions of automobiles on behalf of new car dealers, fleet lease businesses, repossession companies, and used car dealers. The company was founded in 2005 and is headquartered in Dallas. The company is led by CEO Ben Lange (www.americasautoauction.com).
According to AAA, the buy of ABC creates one of the largest privately-held wholesale auto auction platform in the US, increasing AAA’s market presence to 19 locations across the country. “This acquisition further establishes us as a leading automobile auction company in the country,” said Mr. Lange. “This consolidation will allow greater potential for dealers, fleet and lease, and institutional customers, and the culture of both companies is built around providing quality service to our customers and employees.”
“When we began our partnership with America’s Auto Auction, we set out to enhance the range of services provided and increase the company’s national footprint,” said Dan Dross, Managing Partner of Trinity Hunt. “This add-on acquisition is an ideal fit that achieves both objectives. We are excited to continue helping Ben Lange and his team grow organically, as well as through strategic acquisitions.”
Trinity Hunt invests in companies that have EBITDAs between $5 million and $25 million and enterprise values between $25 million and $150 million. Sectors of interest include B2B business services, niche manufacturing, industrial services, non-cyclical consumer and healthcare services. Trinity Hunt is based in Dallas (www.trinityhunt.com).
© 2017 Private Equity Professional | March 1, 2017
