GE Capital announced it is providing financing as part of an $88 million senior secured credit facility to support the acquisition of America’s Auto Auction (AAA) by Trinity Hunt Partners. GE Capital Markets served as co-lead arranger and joint-bookrunner on this facility, and GE Capital made an equity investment alongside the new owners.
"This is our fourth financing with GE Capital," said Ben Lange, CEO of AAA.
AAA, headquartered in Dallas, owns and operates 11 regional wholesale auctions specializing in selling new car trade-ins, aged inventory, leased vehicles, bank-owned vehicles, boats and RVs. The company was founded in 2005 and is now the country’s third-largest vehicle auctioneer.
“This is our fourth financing with GE Capital,” said Ben Lange, CEO of AAA. “We really value the expertise that GE Capital has about our business.”
“We appreciate GE Capital as a predictable and reliable source for financing,” said Dan Dross from Trinity Hunt Partners. “This new facility gives us the resources we need to continue AAA’s expansion.”
“AAA, along with Trinity Hunt, is well positioned with this new acquisition and we are excited to be part of it,” said Bob McCarrick, chief commercial officer, GE Capital, Corporate Finance.