America’s Auto Auction, a portfolio company of Trinity Hunt Partners since April 2015, has continued its expansion with the buy of Grand Rapids-based West Michigan Auto Auction.
On a weekly basis West Michigan Auto Auction (WMAA) consigns over 1,000 cars and has over 900 attending dealers at its sales. In addition to its auction services the company provides other services including mechanical and inspection; transportation; and reconditioning. WMAA has two locations in Grand Rapids and Parma, MI and was founded in 1996 (www.wmaa.net).
America’s Auto Auction specializes in wholesale auctions of automobiles on behalf of new car dealers, fleet lease businesses, repossession companies, and used car dealers. The company, led by CEO Ben Lange, was founded in 2005 and is headquartered in Dallas (www.americasautoauction.com).
The buy of WMAA continues America’s Auto Auction’s nationwide growth and expands its market presence to 21 locations across the country. “This acquisition represents a compelling opportunity to add two high-quality auction locations to the America’s Auto Auction platform,” said Mr. Lange. Last month, America’s Auto Auction acquired Indianapolis-based Auction Broadcasting Company, 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.
“We are excited to continue to build out America’s Auto Auction’s geographic footprint through this acquisition,” said Dan Dross, Managing Partner of Trinity Hunt. “The acquisition of West Michigan Auto Auction represents the continued execution of the value creation plan we developed in partnership with management when we invested in the company.”
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 | April 12, 2017
