OCALA, FL – Tony Moorby, president and COO, Acacia Automotive, Inc., along with Steve "Junior" Sample, chairman and CEO, are looking to acquire already-profitable mid-sized auctions.
"Principally we're looking for auctions with a good base in dealer-promoted business and who have an opportunity to expand through the infusion of fleet units and other vehicles," said Sample.
There is an assumption in the marketplace that all the best auctions either belong to a chain or are staunchly independent, according to Moorby. "I think that operators with an exquisite local knowledge, acting as a group with a national overview, can be to the benefit of buyers and sellers, staff, and shareholders. We're all in this together and can act like it without taking away individuality."
Upon completion of funding, the Acacia Automotive will seek interviews with potential acquisition targets. Asked about the name, Sample related that an acacia tree is symbolic of spreading growth, stability, and durability in a competitive environment and promotes the well being of those who depend on it.
Sample spent most of his working career in the automobile business, mostly in a business development environment; the most recent 15 years with Anglo-American/ADT Automotive, Manheim, and ADESA, and has spent the last two years preparing for this eventuality, devoting all of 2006 to the effort.
Similarly, Moorby has always been in the car business, both in retail and auctions, perhaps most notably as executive vice president of Anglo-American Auto Auctions and president of ADT Automotive prior to its acquisition by Manheim in 2000. He is a member of the National Independent Automobile Dealers Association (NIADA) and National Auto Auction Association (NAAA) Halls of Fame, and serves on NIADA’s Board of Trustees.