Wednesday, Nov. 03, 2010, 04:36 PM UPDATED 1:31 PMBy Auto Remarketing Staff
CARMEL, Ind. -
While also breaking ground on a brand new site, ADESA revealed a significant acquisition late Wednesday as the auction company secured six facilities from the Premier Auction Group.
Included in ADESA’s acquisition are Bay Auto Auction in Bay City, Mich.; Dealers Auto Auction of Michigan in Clare, Mich.; East Tennessee Auto Auction in Fall Branch, Tenn.; Montpelier Auto Auction in Montpelier, Ohio; Premier’s Las Vegas Auction in North Las Vegas; and Wisconsin Auto Auction in Lomira, Wis.
To strengthen the transition, ADESA executives indicated Bob Hubregsen, president of the Premier Auction Group, will serve as a vice president for ADESA.
“I look forwarding to joining the ADESA team and continuing to offer the highest level of service possible to current and new customers alike,” Hubregsen stated.
Company officials insist this acquisition of PAG’s auctions strategically complements ADESA’s dealer consignment initiative and strengthens the company’s footprint in Michigan, Tennessee, Ohio and Wisconsin.
Furthermore, they believe it also provides ADESA with the addition of a specialty sale less than two miles from the construction of the company’s new greenfield auction, ADESA Las Vegas.
Over time, ADESA pointed out these six locations will be integrated into its current infrastructure and resources. Ultimately, management said these six sites should offer the full scope of ADESA’s product and service offerings.
“The acquisition of the Premier Auction Group demonstrates our commitment to increasing our dealer consignment business and enhancing the scale of our offerings to our national consignors,” noted ADESA president and chief executive officer Tom Caruso.
“This acquisition, along with the construction of a new auction in Las Vegas, highlights ADESA’s focus on growing our position in the North American market,” Caruso added.
ADESA Breaks Ground on New Auction Facility in Las Vegas
In other breaking news coming out late Wednesday, ADESA announced that it is beginning work on a major construction project in Las Vegas with a brand-new whole car auction facility.