CHARLOTTE, N.C., July 6, 2015 /PRNewswire/ -- Babson Capital Management, a leading global asset management firm with more than $217 billion in assets under management, today announced it purchased equity interests to support Trinity Hunt Partners' acquisition of America's Auto Auction Inc. (AAA) and Trinity Hunt's purchase of a minority stake in an affiliated company, Auction Credit Enterprises LLC (ACE).
Founded in 2005 and based in Dallas, AAA is a wholesale automobile auction company offering a full spectrum of remarketing services for buyers and sellers of used vehicles. The company is the third-largest provider of pre-owned auto auction services in the U.S., with 11 auction centers in major markets throughout the eastern half of the country. ACE is a related finance company providing floorplan financing to used-car dealers who purchase vehicles at auction.
"Trinity Hunt is pleased to partner with Babson on our investments in AAA and ACE," said Daniel S. Dross, Managing Partner for Trinity Hunt Partners. "We value Babson's relationship-oriented approach to investing as well as its core strength in fundamental investment analysis, and we look forward to working with Babson's team on future opportunities."
"Babson is excited to broaden our partnership with Trinity Hunt through our support of the AAA and ACE investment," said Michael L. Klofas, Managing Director and head of Babson's Mezzanine & Private Equity Group. "Trinity Hunt has a proven track record of working with management to help companies realize their growth potential, and we believe the prospects for AAA and ACE are very attractive given favorable industry trends and opportunities to grow organically."
About Trinity Hunt Partners
Trinity Hunt is a private equity firm based in Dallas, Texas, and known throughout the Southwest, Southeast and lower Midwest regions of the U.S. for working closely with entrepreneurs and family-owned businesses to provide strategic, operational and capital expertise to help take companies to the next level. The Trinity Hunt team has successfully invested $1.3 billion of equity capital in more than 50 platform companies spanning a diverse array of industries and economic cycles. Trinity Hunt's sponsor, the Lamar Hunt family, has a well-deserved reputation for high integrity and fair dealing that serves as a foundation for how Trinity Hunt does business. Learn more at www.trinityhunt.com.
About Babson Capital Management
Babson Capital Management (Babson) is a leading global asset management firm with over $217 billion in assets under management as of March 31, 2015. Through proprietary research, analysis and a focus on investment fundamentals, the firm and its global affiliates develop products and strategies that leverage its broad expertise in global fixed income, structured products, middle market finance, commercial real estate, alternatives and equities. Part of the MassMutual Financial Group, Babson maintains a strong global footprint with operations on four continents and clients in over 20 countries. Learn more at www.babsoncapital.com.
SOURCE Babson Capital Management