XLerate Group Completes Fourth Add-on
DETROIT, MI, December 2, 2016 – Huron Capital Partners LLC (“Huron Capital”) announced today that its portfolio company, XLerate Group (“XLerate”), has acquired Lubbock, Texas-based Lone Star Auto Auction (“LSAA”). The deal marks the fourth add-on acquisition for XLerate in partnership with Huron Capital, and the third in 2016.
LSAA currently operates a seven-lane auction building in Lubbock, serving automotive dealers within a 350-mile radius (primarily in Texas, New Mexico and Oklahoma, as well as Arizona). The LSAA location will complement XLerate’s existing sites in Dallas, Austin (2), and El Paso. Including LSAA, XLerate has 17 auto auction sites in California, Florida, Michigan, South Carolina, Texas and Wisconsin.
“We think LSAA is an excellent addition to the XLerate lineup,” said Cam Hitchcock, CEO of XLerate. “With five sites in Texas, XLerate is well-positioned to continue serving dealers in the Southwest, and we remain active in our search for additional geographically strategic, owner-operated auctions that fit our existing platform.”
“With three add-on acquisitions in 2016, we are excited about XLerate’s buy-and-build model,” said Greer Love, Huron Capital Vice President. “We think XLerate’s strategy is attractive to operators who are looking to join a growing network of auto auctions in order to share best practices and benefit from our nationwide platform.”
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