XLerate Group acquires Morton AA and Southeastern AA

It’s already been an eventful 2019 for the XLerate Group.

The auction company announced a pair of acquisitions on Friday, adding Morton Auto Auction (MAA) located in Morton, Ill., and Southeastern Auto Auction (SEAA) based in Savannah, Ga.

With these acquisitions in the portfolio, XLerate Group now operates 12 auctions with sales in California, Florida, Georgia, Illinois, Michigan, Pennsylvania, South Carolina, Texas and Wisconsin. XLerate also operates robust digital and mobile sales platforms nationally.

MAA has been owned and operated by the Krupa family since 2006, serving both dealers and fleet/lease consignors. In existence since 1978, MAA is XLerate’s fifth Midwestern location and has served a broad swath of dealers in Illinois, Iowa, Wisconsin, Missouri and Indiana as well as key commercial consignors.

XLerate chief executive officer Cam Hitchcock said, “Adding MAA to the XLerate family helps solidify our Midwest footprint and adds another highly respected independent operator to our management team. We have stayed the course with XLerate ’s long-term strategy to grow our business, footprint and service offerings by acquiring high-quality independent sales with strong operating management and building upon this foundation.

“Steve and Ted Krupa have owned and grown the sale since purchasing it in 2006 from the Weihmeir family, MAA’s co-founders,” Hitchcock continued. “Steve is quite active in key industry groups and associations, promoting and protecting the interest of his independent auction constituents.”

The company indicated that Steve Krupa and general manager Shawn Glatz will continue to oversee MAA and will work closely with the XLerate sales teams to drive additional volume through MAA.

“We are honored that Steve’s family trusts XLerate with their legacy and employees at MAA,” Hitchcock said. “We intend to aggressively grow the sale and enhance key product offerings like digital and our mobile sale platform.”

Steve Krupa added that “we are thrilled to join the XLerate Group. My team and I feel that XLerate’ s resources, expertise and management structure are a perfect fit for Morton and its employees and will help us to better serve our dealers and commercial consignors.

“While it is never an easy decision to sell your family auction, it was clear that XLerate was the best fit,” Krupa went on to say.

MAA has dealer consignment, fleet/lease and financial institution sales each Wednesday at its 22-acre facility.

Details about SEAA acquisition

In a separate transaction, XLerate Group also boosted its footprint in the Southeast.

SEAA has dealer consignment, fleet/lease and financial institution sales each Wednesday at its Savannah, Ga., facility as well as a weekly public sale on Thursdays. The auction operates a four-lane arena and reconditioning facility on approximately 15 acres.

“SEAA is the latest step in XLerate’s strategy to grow our business, footprint and service offerings by acquiring high-quality independent sales with strong operating management,” Hitchcock said. “Tommy Childs, Danny Williams and Wayne DeLoach started SEAA in 1987 and have expanded it several times since.”

XLerate alum and current SEAA operator Bill McCready will run SEAA, according to the company. McCready previously served as the assistant general manager of Charleston Auto Auction, another XLerate Group location about 100 miles away from SEAA.

XLerate executive vice president Chuck Tapp said, “We are pleased to officially welcome Bill back to the XLerate family.

“He is a proven operator with a laser focus on customer service. He has an intimate knowledge of the regional customer base as well as a great track record with commercial consignors,” Tapp added about McCready, who was among Auto Remarketing’s annual Remarketing & Used-Car Industry’s 40 Under 40 [2] honorees in 2016.

SEAA celebrated 22 years in business back in August [3].

“SEAA’s customers and employees will be well served by the resources and depth of product offerings that come with being part of the XLerate Group. I look forward to expanding SEAA’s base of business and continuing to drive its strategic growth,” McCready said.

DeLoach, added, “Danny, Tommy and I are excited for our dealers, institutional clients and our auction family. Joining the XLerate Group gives Southeastern Auto Auction capabilities it did not have as a single auction.

“During our thirty-plus years in business, we have had the pleasure of working with so many great people. We all say thank you to everyone who has worked for, or done business with, Southeastern Auto Auction,” DeLoach went on to say.

Source URL (retrieved on 01/21/2021 – 4:13pm): https://www.autoremarketing.com/wholesale/xlerate-group-acquires-morton-aa-and-southeastern-aa


[1] https://www.autoremarketing.com/wholesale/xlerate-group-acquires-morton-aa-and-southeastern-aa

[2] https://www.autoremarketing.com/trends/40-under-40-our-2016-honorees

[3] https://www.autoremarketing.com/wholesale/southeastern-auto-auction-celebrates-22-years

[4] https://www.autoremarketing.com/ar-categories/auctions

[5] https://www.autoremarketing.com/ar-categories/mergers-and-acquisitions