CHARLESTON, SC – American Auto Auction Group, LLC (AAAG) entered a partnership with Baird Capital Partners (BCP), the U.S.-based private equity group within Baird Private Equity (BPE). BPE manages more than $2 billion in assets.
“We are excited about the opportunities in the auction industry, and we are thrilled to be partnering with such a talented management team,” said Randy Mehl, BCP partner. “Our network of resources will assist American Auto Auction Group in becoming a market leader.”
Based in Charleston, S.C., American Auto Auction Group was formed by industry veterans Steve Simon and Keith Lelux for the express purpose of acquiring independent auctions throughout the country with the ultimate goal of creating a nationwide auto auction platform that provides a viable alternative for vehicle sellers who require multi-national sales coverage.
“As a 20 year industry veteran, I am delighted to be in a growth mode again with BCP,” stated CEO Steve Simon. “Our operating skills and customer centric views coupled with Baird’s financial backing sets the stage for an exciting growth trajectory.”
Baird Capital Partners is the U.S. based buyout fund of Baird Private Equity. Established in 1989, BCP leverages its deep sector knowledge, experienced investment team and extensive operating resources to drive value in its portfolio companies. For more information about BCP, please visit bairdcapitalpartners.com.
For additional information about American Auto Auction Group please call 843-579-AUTO or visit americanautoauctiongroup.com.