America’s Auto Auction acquired Auction Broadcasting Company's eight auctions in the Midwest and Eastern seaboard in a move announced Jan. 27. In a related move, Xcira acquired the intellectual property and some personnel associated with ABC’s auction management system, Auto Remarketing reported.
With the addition of ABC’s eight auctions, America’s Auto Auction’s roster of auctions will now total 20. Its presence in states such as Illinois and Pennsylvania will be bolstered through the acquisition, since both companies had auctions in separate cities within those states. However, it will also be entering markets such as Louisiana, Alabama, Kentucky, and Virginia for the first time.
"America's Auto Auction is proud to announce the acquisition of Auction Broadcasting Company. This consolidation will allow greater potential for dealers, fleet and lease, and institutional customers," said Ben Lange, president and CEO of America's Auto Auction in a company statement. "The culture of both companies is built around providing quality service to our customers and employees. I am personally looking forward to meeting with customers and employees over the next several weeks."
ABC maintained auctions in Baton Rouge, La.; Moody, Ala.; Bowling Green, Ky.; Cincinnati; Perrysburg, Ohio; East Petersburg, Pa.; Centreville, Ill.; and Virginia Beach, Va.
Dallas-based America’s Auto Auction was founded in 2005. It first came to market as Automotive Remarketing Group Inc., but later changed its name to America’s Auto Auction in 2006. Before the acquisition of ABC, the company operated 12 auctions throughout the country. Ben Lange is currently serving as its president and COO.
ABC was founded approximately 17 years ago by Mike Hockett, an automotive auction business veteran who has been in the industry since 1964. Hockett also separately founded ADESA Auctions back in 1989.