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.
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.
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.
Athene is the lead investor in the new mega company, consolidating two of the most well-known fleet companies in the world.
ACV Auctions said this acquisition furthers its mission to provide the industry with an accurate view of vehicle conditions.
The existing KCI Kansas City auction team will remain at the company after the acquisition.
The XLerate Group has acquired Columbus Fair Auto Auction (CFAA), the group now operates under thirteen auction brands
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.
With this acquisition, America's Auto Auction now includes 22 locations.
Copart has acquired Vincent Auto Solutions, an online auction that specializes in total-loss, fleet and damaged vehicles.
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