XLerate Group Completes Fifth Add-on Deal, Expands into Pennsylvania
DETROIT, MI, March 13, 2017 – Huron Capital announced today that its portfolio company, XLerate Group (“XLerate”), has acquired Corry, Penn.-based Corry Auto Dealers Exchange (“CADE”). The deal marks the fifth add-on acquisition for XLerate in partnership with Huron Capital since May 2015.
Originally commencing operations in 1946, CADE has been owned and operated by the Swift family for the past 36 years. CADE services dealers and consignors in six states, and is XLerate’s first Pennsylvania-based auction. XLerate now has 18 auto auction sites under ten brands in California, Florida, Michigan, Pennsylvania, South Carolina, Texas and Wisconsin.
XLerate CEO Cam Hitchcock stated, “CADE is the latest step in XLerate’s plan to grow our business, footprint and service offerings by acquiring high-quality independent organizations with strong operating management. This move also significantly enhances our presence in the northeast region of the country.”
“The XLerate buy-and-build model continues to gather momentum,” said Matt Lacki, Huron Capital Vice President. “With five add-on acquisitions within the past 22 months, we are building a nationwide platform. We look forward to working with Cam and the XLerate team to pursue additional growth opportunities.”
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