XLerate to Acquire America's Auto Auction to Expand Vehicle Auction Services.
MANews-(C)2009-2021
Indiana, US-based auction services company XLerate Group has agreed to acquire Texas-based vehicle auction provider America's Auto Auction (AAA) to expand vehicle auctions and related financing to enable the remarketing of vehicles, deliver critical services and liquidity to the vehicle ecosystem, the company said.
Terms of the transaction were not disclosed.
XLerate and AAA will have a total of 39 auction sites across 19 states, as well as growing digital and mobile auction businesses and related financing.
Kirkland and Ellis, LLC is acting as legal advisor to XLerate and Jefferies LLC is acting as financial advisor. Katten Muchin Rosenman LLP is acting as legal advisor to America's...
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