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XLerate Group Completes Third Add-on Investment
Detroit, MI – June 28, 2016 – Huron Capital Partners LLC (“Huron Capital”) announced today that its portfolio company, the XLerate Group (“XLerate”), acquired EPI-El Paso (“EPI”). The deal marks the third add-on acquisition for XLerate in partnership with Huron Capital, and its second add-on in 2016.
EPI commenced operations in 2011 as part of the McConkey Auction Group. EPI holds financial institution, fleet/lease and dealer consignment sales every Wednesday at its El Paso, Texas facility. The auction operates a four-lane arena, reconditioning facility and mechanical shop, and is situated on approximately 16 acres. With the addition of EPI, XLerate now has auto auction sites across the state in Dallas, Austin and El Paso, plus locations in California, Florida, South Carolina, Michigan and Wisconsin.
XLerate CEO, Cam Hitchcock, stated, “EPI is the latest step in XLerate’s plan to grow our footprint and service offerings by acquiring quality independent businesses. This acquisition broadens XLerate’s presence in the robust Texas market and augments our capabilities to service fleet/lease and financial institution customers.”
“We are excited about this latest acquisition for XLerate,” said Greer Love, Huron Capital Vice President. “We have been hard at work with Cam and the XLerate team to identify and invest in businesses like EPI, and plan to continue pursuing our buy-and-build strategy in the auto auction space.”
Certain information herein may contain forward-looking statements which are provided to assist the reader in understanding the beliefs and opinions with respect to future opportunities as perceived by Huron Capital and others quoted herein. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance in future periods to differ materially from any projections or results expressed or implied by such forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The issuer of these statements undertakes no obligation to update forward-looking statements if circumstances or estimates or opinions should change except as may be required by applicable securities laws.
