Wholesale Express is under new ownership — and set to expand its Eastern Canada business further across the country.

The wholesale auto sales site for dealers has been purchased by an investor group made up of management and AshMark, and supported by CIBC, Highcrest Capital and Andy Le and John Konop, the company said in a press release last week.

Le was previously the CFO of Industrial Alliance Auto Finance and he also co-founded MechaniQ and AutologiQ. Konop is the managing partner of Savent Financial.

The investor group bought the company with the goal of expanding an Eastern Canada dominant wholesale auto business to the broader Canadian market this year.

Last year, Wholesale Express saw over 25,000 used-vehicle transactions through its online marketplace and its 4,500 strong dealer network.

As part of the transaction, Eric Gosselin, co-founder of Wholesale Express, is returning as CEO.

“I am excited to be back at Wholesale Express, especially with our new funding and management partners,” Gosselin said in a press release. “The company is now both well financed and positioned to expand outside of Eastern Canada and into the rest of Canada, while enhancing our online marketplace software and new service offerings for our dealer clients.”