MORTON, Ill. and INDIANAPOLIS, Jan. 11, 2019 /PRNewswire/ -- The XLerate Group today announced the addition of a new member to its auction family with the acquisition of Morton Auto Auction (MAA). MAA has been owned and operated by the Krupa family since 2006 and is highly regarded by both dealers and fleet/lease consignors. MAA is XLerate's 5th Midwestern location (20 in total) and has, since 1978, served a broad swath of dealers in IL, IA, WI, MO, and Indiana as well as key commercial consignors. XLerate Group now operates under eleven auction brands with fixed site sales in California, Florida, Illinois, Michigan, Pennsylvania, South Carolina, Texas, and Wisconsin. XLerate also operates robust digital and mobile sales platforms nationally.
XLerate's CEO Cam Hitchcock stated, "adding MAA to the XLerate family helps solidify our Midwest footprint and adds another highly respected independent operator to our management team. We have stayed the course with XLerate 's long-term strategy to grow our business, footprint and service offerings by acquiring high-quality independent sales with strong operating management and building upon this foundation. Steve and Ted Krupa have owned and grown the sale since purchasing it in 2006 from the Weihmeir family, MAA's co-founders. Steve is quite active in key industry groups and associations, promoting and protecting the interest of his independent auction constituents."
Steve Krupa and Shawn Glatz (GM) will continue to operate MAA and will work closely with the XLerate sales teams to drive additional volume through MAA. Cam Hitchcock, CEO of XLerate, says, "we are honored that Steve's family trusts XLerate with their legacy and employees at MAA. We intend to aggressively grow the sale and enhance key product offerings like digital and our mobile sale platform."
Steve Krupa commented that "we are thrilled to join the XLerate group. My team and I feel that XLerate' s resources, expertise, and management structure are a perfect fit for Morton and its employees and will help us to better serve our dealers and commercial consignors. While it is never an easy decision to sell your family auction, it was clear that XLerate was the best fit."
MAA has dealer consignment, fleet/lease, and financial institution sales each Wednesday at its 22-acre facility.
ABOUT THE XLERATE GROUP: XLerate is an entrepreneurial, leading auction provider with sites in California, Wisconsin, South Carolina, Pennsylvania, Texas, Michigan, Illinois, and Florida, as well as private-label auctions across multiple markets. www.XLerategroup.com
SOURCE XLerate Group