DETROIT, May 28, 2015 /PRNewswire/ -- Huron Capital Partners LLC ("Huron") announced today that its auto auction portfolio company, The XLerate Group. ("XLerate"), has acquired Schoolcraft, Mich.-based Greater Kalamazoo Auto Auction ("GKAA"). This deal marks the 100th investment made by Huron Capital since its inception in 1999.
GKAA becomes the seventh member of the auction family at XLerate Group (f/k/a American Auto Auction Group), continuing XLerate's national expansion strategy. XLerate has a new centralized headquarters location in Indianapolis, Ind. and an established group of dealer-centric auctions with physical and satellite sale operations in California, Texas, Florida, South Carolina, Mississippi, Wisconsin and Michigan. GKAA features fleet, lease, financial institution and dealer consignment sales each Thursday at its Michigan location, just south of Kalamazoo.
XLerate CEO Cam Hitchcock stated, "With the addition of GKAA, XLerate continues the objective of growing our business by acquiring quality independent sale operations to enhance our auction family offering. This acquisition bolsters XLerate's presence in the key Midwest market. We are honored that the Devries family entrusts us with its legacy and very much look forward to working with them over the coming years."
"XLerate is recognized for its customer service and business integrity. We think GKAA will help grow that reputation, and we are excited to have GKAA as part of the group," said Peter Mogk, Huron Senior Partner.
Brian Demkowicz, Huron's Managing Partner, added: "Since 1999, we have built a strong organization at Huron and are committed to the lower end of the middle market. While reaching the closing of our 100th investment is an important milestone, we have invested significant resources to leverage our market position and build on our momentum. We are looking forward to acquiring the next 100 companies."
About Huron Capital Partners
Based in Detroit, Huron Capital is an operationally-focused private equity firm with a long history of growing lower middle-market companies through its customized ExecFactorSM buy-and-build investment model. Huron prefers complex situations where it can help companies reach their full potential by combining its operational approach, substantial capital base and transaction experience with proven operating executives. Founded in 1999, Huron has raised over $1.1 billion in capital through four committed private equity funds, invested in over 95 companies, and its portfolio companies have employed over 7,500 people throughout North America. The Huron ExecFactorSM buy-and-build investment model includes equity recapitalizations, family succession transactions, market-entry strategies, corporate carve-outs and management buyouts of companies having revenues up to $200 million. Huron's sector focus includes specialty manufacturing, business services, consumer goods & services, and healthcare. For more information, please visit www.huroncapital.com.
About The XLerate Group
XLerate is an entrepreneurial, leading auction provider with sites in South Carolina, Florida, Michigan, Mississippi, Texas, California and Wisconsin as well as private-label auctions across multiple markets. To learn more, visit www.XLerateGroup.com.
SOURCE Huron Capital Partners LLC