KAR Auction Services on Wednesday announced it has acquired GRS Remarketing Limited (GRS), a subsidiary of Greenhous Group Limited.

“During the past 20 years, GRS has established a successful online vehicle remarketing business in the UK through robust technology, effective sales and operation, a healthy buyer network and strong relationships with commercial customers,” Jim Hallett, KAR chief executive officer and chairman, said in a news release. “KAR is committed to international growth, and the acquisition of a leading technology business like GRS complements our wide range of vehicle remarketing services.”

GRS will be renamed ADESA UK once the sale is complete. Jonathan Holland, vice president of business development for ADESA UK, will assume the position of managing director.

"With more than 30 years in vehicle remarketing in both the UK and mainland Europe, Jonathan possesses the experience and reputation to successfully build our UK business," said Benjamin Skuy, executive vice president of international markets and strategic initiatives for KAR.

This is KAR’s second acquisition in the United Kingdom, following the purchase of salvage company HBC Vehicle Services in June 2015.

Last month, TradeRev UK announced a partnership with Arval to provide upstream remarketing services for a luxury segment of the leasing firm’s UK portfolio. KAR business unit ADESA holds a 50 percent stake in TradeRev.

“We view the TradeRev partnership and GRS acquisition as strategically complementary,” said Skuy. “Along with other KAR services we intend to bring to the UK market, these businesses will position ADESA UK as an exceptionally formidable competitor.”