Carmel-based KAR Auction Services (NYSE: KAR) says it has strengthened its national footprint with the acquisition of Flint Auto Auction in Michigan. KAR Chief Executive Officer Jim Hallett says the deal is part of a strategy to fortify the company’s presence "in the epicenter of the U.S. automotive industry."
Flint Auto Auction is a fully-automated, eight-lane auction on 60 acres of land just northwest of the Detroit metropolitan area. The site also features full-service reconditioning facilities, including a mechanical shop and body shop. The facility will operate as ADESA Flint.
Hallett says the acquisition "enhances KAR’s end-to-end remarketing platform in Detroit and positions us to accelerate growth in the very dynamic Midwest marketplace." The facility hosts factory, fleet and dealer sales each Wednesday.
Flint Auto Auction General Manager Lawrence Cubitt and other members of the auction’s leadership team will continue in their positions.