The XLerate Group has acquired Corry Auto Dealers Exchange (CADE) from Merle Swift, which marks the group's entry into the Pennsylvania auction market, the company has announced. Terms were not disclosed.
George Pero, who founded California-based Auctions in Motion, will manage CADE, according to XLerate. Pero has been with the XLerate Group since 2012, when the group acquired Auctions in Motion. He founded the business in 2006.
“We are honored that the CADE operating team will join XLerate and that Merle has entrusted XLerate Group with his highly respected sale and auction team.”
With this acquisition, XLerate Group will now be operating under 10 auction brands and have sales in California, Florida, South Carolina, Michigan, Wisconsin, Texas, and Pennsylvania.
“CADE is the latest step in XLerate’s plan to grow our business, footprint and service offerings by acquiring high-quality independent sales with strong operating management,” said Cam Hitchcock, XLerate CEO.
The auction services dealers and consignors in Pennsylvania, New York, Ohio, West Virginia, Maryland, and New Jersey. CADE has dealer consignment, fleet/lease, and financial institution sales each Thursday at its Corry, Pa. facility. The auction operates a four-lane arena, reconditioning facility, and mechanical shop across approximately 30 acres.
CADE began operations in 1946. Since 1982, it has been owned and operated by the Swift family.