INDIANAPOLIS and GRAND RAPIDS, Mich. –
The XLerate Group announced Monday afternoon that it has purchased the Grand Rapids Auto Auction.
“With the addition of GRAA, XLerate continues to execute on its plan to grow our business and its service offering by acquiring quality independent sales. GRAA is highly respected and will be a phenomenal complement to XLerate’s Greater Kalamazoo Auto Auction,” XLerate chief executive officer Cam Hitchcock said in a news release.
“This acquisition bolsters XLerate’s presence in the critical Midwestern market and our capabilities to service fleet/lease and financial institution customers. We are honored that Mark Capel and his staff will join XLerate’s highly talented management team, and XLerate’s team will benefit from Mark’s deep experience in compliance and best auction practices for the fleet/lease and institutional markets,” he said.
GRAA holds sales each Tuesday at the five-lane arena. The auction, located on approximately 30 acres, also includes a reconditioning facility and a mechanical shop. Mark Capel has been GRAA’s principal owner since 2001.
“Joining the XLerate group is a great thing for GRAA’s customers and employees. The support and resources that the XLerate Group offers to its auction family allow me to better focus on building my business and serving GRAA’s customers,” Capel said. “My family and I are excited to join a high quality, high integrity group of operators who share our commitment to providing a superior customer experience.”
Source URL (retrieved on 01/21/2021 – 4:37pm): https://www.autoremarketing.com/wholesale/xlerate-buys-grand-rapids-auto-auction