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DAAG expands its footprint to nine locations throughout the Southeast.
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The four senior vice presidents take on key roles within a much larger company since AAA was acquired by XLerate Group in December 2021.
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FastLane will be the anchor asset for EBlock to expand its reach by enabling digital dealer-to-dealer buying and selling, positioning EBlock for further reach in the U.S. Midwest.
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The agreement is closely aligned with KAR’s digital strategy, and will allow KAR to focus on its portfolio of digital marketplaces.
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The combined auction companies will have 39 locations across 19 states, making it a new powerhouse in the remarketing industry.
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The purchase will enable the auction company to solidify its market positions and further scale in this industry through strategic investments in technology and other avenues for growth.
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Paul Fetter will continue the family legacy and will run CCAA in his capacity as general manager.
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The regional acquisition expands the independent auction group's fixed site and mobile sales portfolio.
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The automotive remarketing sector is seeing big changes due to an increased use of technology, evolving vehicle mix and shifting expectations from buyers and sellers.
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KAR expects to be immediately profitable across its North American dealer-to-dealer platforms while enhancing its position in the highly fragmented wholesale used vehicle market.
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