BCP Portfolio Company American Auto Auctions Group Acquires Auctions In Motion, Inc.
Sixth Acquisition by AAAG since early 2010
CHARLESTON, S.C., Oct. 10, 2012
Baird Capital Partners (BCP), the U.S.-based buyout fund of Baird Private Equity, announced today that its portfolio company American Auto Auction Group, LLC (AAAG) has acquired Auctions In Motion, Inc. (AIM). Based in Westlake Village, Calif., AIM is a dealer consignment auction offering traditional auction services. This acquisition, the sixth since AAAG’s founding, is in line with AAAG’s strategy to grow its core business, increase its market share and expand its geographic footprint from coast to coast.
AAAG was established in early 2010 to execute an acquisition platform strategy in the whole car auction market. In addition to AIM, AAAG has acquired Badger State (Fond Du Lac, Wis.), Charleston Auto Auction (Moncks Corner, S.C.), Mid-South Auto Auction (Pearl, Miss.), Texas Lone Star Auto Auction (Carrollton, Texas) and Your Auction, Inc. (Tampa, Fla.). Whole car auctions create a transaction marketplace for finance companies, fleets, wholesalers, independent dealers, and franchise dealers to sell and purchase vehicles.
“We are excited to be welcoming the AIM team into the AAAG family,” said Bill McIver, CEO of AAAG. “This acquisition represents another important milestone in AAAG’s plans to become a national platform of independent auctions.”
“The acquisition of AIM is another step toward becoming a national full-service dealer-centric remarketing platform,” said Tom Costello, BCP Principal. ”We continue to be very interested in partnering with other independent auctions as we build AAAG’s market share across the country.”
About Baird Capital Partners
Baird Capital Partners, the U.S.-based buyout fund of Baird Private Equity, invests in lower middle-market companies in the business services, manufactured products and healthcare sectors. Established in 1989, Baird Capital Partners leverages its deep sector knowledge, experienced investment team and extensive operating resources to drive value in its portfolio companies. Baird Capital Partners is supported by operating resources in China and India focused on facilitating and executing Asia sourcing, manufacturing and distribution strategies for Baird Capital Partners’ portfolio companies. Baird Private Equity is the global private equity group of Robert W. Baird & Co. (Baird). For more information, please visit bairdcapitalpartners.com
About Ameican Auto Auction Group
Building on a network of independent auctions throughout the country, American Auto Auction Group provides a viable alternative for vehicle sellers who require national sales coverage. AAAG is headquartered in Charleston, S.C., and currently operates the following auction properties: Badger State Auto Auctions in Fond Du Lac, Wis.; Charleston Auto Auction in Moncks Corner, S.C.; Mid-South Auto Auction in Pearl, Miss.; Texas Lone Star Auto Auction in Carrollton, Texas; and Your Auction, Inc. in Tampa, Fla. For additional information about American Auto Auction Group call 843-579-AUTO or visit americanautoauctiongroup.com