KAR Auction Unit Announces Acquisition
Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowA business unit of Carmel-based KAR Auction Services Inc. (NYSE: KAR) has purchased Pittsburgh Auto Auction in Pennsylvania. ADESA says the acquisition complements its current buyer base in the eastern region.
March 18, 2015
News Release
Carmel, Ind. — ADESA, a business unit of KAR Auction Services (NYSE: KAR), today announced it has expanded its presence in the Pennsylvania auction market with the acquisition of Pittsburgh Auto Auction in New Stanton, Penn. This location joins two other ADESA auctions in the region, ADESA Pittsburgh and ADESA PA.
The 200-acre facility is conveniently located on the southwest side of Pittsburgh, near the I-70/PA Turnpike intersect. This established auction offers seven fully automated auction lanes and full-service reconditioning facilities including a body shop and mechanical shop.
“This acquisition demonstrates our continued commitment to grow our physical auction business and expand our geographic footprint,” said ADESA President and CEO St?phane St-Hilaire. “I look forward to working with the experienced staff at this location to continue the level of service they have provided for more than 35 years.”
Chris Angelicchio will continue as General manager of the auction. And Dave Angelicchio, former NAAA president and CEO of the auction will serve in a consultant capacity. “It has been a great experience working with ADESA,” said Dave Angelicchio. “And I am confident that ADESA will maintain the personal level of dedication and involvement we have had for our employees and our customers for more than three decades.”
This acquisition bolsters ADESA's presence in the eastern region and complements the company's current buyer base. This facility has served customers in the area since 1978 and has conducted a weekly sale every Tuesday and a biweekly GM closed sale every other Thursday.
About ADESA
ADESA offers a full range of auction, reconditioning, logistical and other vehicle-related services to meet the remarketing needs of both its institutional and dealer customers. The company handles virtually every stage of the used-vehicle lifecycle through its related subsidiaries of PAR North America, RDN, AutoVIN and CarsArrive. Remarketing services include a variety of activities designed to transfer used vehicles between professional sellers and buyers.
ADESA hosts weekly sales at its 65 auction locations across the United States, Canada and Mexico. The company also builds and manages online sale platforms for many major vehicle manufacturers. The company's online auction venues include ADESA LiveBlock, which simulcasts vehicles worldwide; and ADESA DealerBlock, which offers two ways to buy: bid-now sales events or buy-now pricing 24/7. ADESA is part of the KAR Auction Services family of companies. Visit ADESA.com for details.
Source: KAR Auction