Used vehicle consignor CarLotz will enable Shift to pursue a new business plan focused on allowing consumers to buy vehicles online, sight unseen, for pickup or delivery.
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Merchants will continue to operate independently. The members of the Merchants leadership team will remain in their current roles and will be co-investors in the business.
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The new company will be known as NewALD and will give the business extensive global reach with a total of 3.5 million vehicles under fleet management.
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Athene is the lead investor in the new mega company, consolidating two of the most well-known fleet companies in the world.
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ACV Auctions said this acquisition furthers its mission to provide the industry with an accurate view of vehicle conditions.
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The existing KCI Kansas City auction team will remain at the company after the acquisition.
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The XLerate Group has acquired Columbus Fair Auto Auction (CFAA), the group now operates under thirteen auction brands
Read More →Consignment and sales from the acquired facility will be merged into existing operations at Indiana Auto Auction, according to Eric Autenrieth, who leads the auction group.
Read More →With this acquisition, America's Auto Auction now includes 22 locations.
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Copart has acquired Vincent Auto Solutions, an online auction that specializes in total-loss, fleet and damaged vehicles.
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