The Angelicchio family, owners of Pittsburgh Auto Auction (PAA), have entered into a definitive agreement to acquire the assets of Winchester Auto Dealers Exchange (WADE) through a newly formed corporation: Winchester Auto Auction, Inc.
Winchester Auto Auction is located on the Virginia/West Virginia border and has been operated as a public auto auction for more than 12 years. After extensive renovations and system updates, Winchester Auto Auction will begin holding weekly dealer-only auctions on Fridays, beginning April 11, 2014. The auction will continue to host weekly public auctions on Saturdays through the end of the March. Starting May 17, 2014, the auction will hold public sales on a monthly basis, on the third Saturday of each month.
Dave Angelicchio, Chairman & CEO of PAA, stated, "We are very excited to announce the acquisition of Winchester Auto Auction. The auction is well located on I-81 in a large and growing market and has great opportunity for further expansion. My family has owned and operated the Pittsburgh auction for over 35 years, and we are confident that our extensive auto auction experience will help to develop Winchester Auto Auction into a premier operation for dealers and commercial accounts.”
“As with our Pittsburgh operation, we intend to enroll the auction in both the National Auto Auction Association (NAAA) and apply for membership to ServNet in the coming months. The auction will also use Auction Access and integrate with both an auction operating technology system and AutoIMS," Angelicchio added.