CORRY, Pa. and INDIANAPOLIS –
The XLerate Group has purchased Corry Auto Dealers Exchange, the auction group announced Friday.
This marks XLerate’s first foray into Pennsylvania and brings its auction brand count to 10. The group now has auction sales in California, Florida, Michigan, Pennsylvania, South Carolina, Texas and Wisconsin.
“CADE is the latest step in XLerate’s plan to grow our business, footprint and service offerings by acquiring high-quality independent sales with strong operating management,” XLerate chief executive officer Cam Hitchcock said in a news release.
CADE began operating in 1946. Merle Swift bought the auction in 1982 and the Swift family has operated it ever since. The Corry, Pa., auction has a four-lane arena, reconditioning facility and a mechanical shop. It is located on about 30 acres.
Sales are held each Thursday, with the auction working with dealers and consignors from Maryland, New Jersey, New York, Ohio, Pennsylvania and West Virginia.
With this purchase, running the auction will George Pero, who founded the Auctions in Motion company that XLerate purchased in 2012  (when the latter was known as the American Auto Auction Group). Pero relocated to the Erie, Pa.-area a few years ago.
“We are honored that the CADE operating team will join XLerate and that Merle has entrusted XLerate Group with his highly respected sale and auction team,” Pero said in the news release.
“CADE is an award-winning sale with excellent operating management and great, loyal clients,” he said. “I look forward to leading the team through CADE’s strategic growth plan, creating opportunities and leveraging the XLerate family resources to grow the business.”
Source URL (retrieved on 01/21/2021 – 4:25pm): https://www.autoremarketing.com/wholesale/xlerate-buys-corry-auto-dealers-exchange