Central Arkansas Auto Auction, in Beebe, Arkansas, has retained TPC Management Company for strategic consulting as the auction looks to expand its services into the fleet/lease (commercial/institutional) business segment, the companies said March 1.
Cole Hooten, third generation auction owner, and his wife, Brooke Hooten, are managing partners of the auction facility. “Their understanding of the industry and the breadth of their relationships, both within the auction community and among the commercial accounts around the country, will be of great benefit to us as we position ourselves to reach a broader range of customers," Cole Hooten said in a news release.
Central Arkansas Auto Auction was opened in 1987 by O.L. Payton, Cole Hooten’s grandfather. His son John Payton, his daughter Wendy, and her husband Delane Hooten headed the auction for many years before turning operations over to their son Cole and Brooke Hooten. For more than 30 years, the auction has served new and used car dealers and financial institutions on a 17-acre facility in Beebe, Arkansas, just northeast of Little Rock, at the intersection of Highway 64 East and I-67.
Central Arkansas Auto Auction holds simulcast and live auctions every Wednesday at 9 a.m. The Hootens report they are also preparing a fifth simulcast-only lane which will open in early April to facilitate the online sale of front-line dealer consignment. The facility offers a full complement of services to its customers, including reconditioning, mechanical and body shop services, post-sale inspections, title work and transportation.
“The Hootens and the team at Central Arkansas Auto Auction have set a high standard for service and attention to detail through every step of the auction process,” said Jiles Wanna, vice president of client services at TPC.
Founded in 1996, TPC Management Company, based in Nashville, Tennessee, has provided consulting programs, management recruiting, and buy/sell transaction advisory services to a variety of automotive related companies, including independent auto auctions, technology concerns, investment companies and transportation companies. TPC also developed Auction Academy, a continuing education program for professionals in the automotive industry.