The XLerate Group, a portfolio company of Huron Capital Partners LLC, acquired EPI-El Paso, which operates an auto refurbishing and auction facility in El Paso, Texas. This is the third add-on for XLerate.
DETROIT, June 28, 2016 /PRNewswire/ — Huron Capital Partners LLC (“Huron Capital”) announced today that its portfolio company, the XLerate Group (“XLerate”), acquired EPI-El Paso (“EPI”). The deal marks the third add-on acquisition for XLerate in partnership with Huron Capital, and its second add-on in 2016.
EPI commenced operations in 2011 as part of the McConkey Auction Group. EPI holds financial institution, fleet/lease and dealer consignment sales every Wednesday at its El Paso, Texas facility. The auction operates a four-lane arena, reconditioning facility and mechanical shop, and is situated on approximately 16 acres. With the addition of EPI, XLerate now has auto auction sites across the state in Dallas, Austin and El Paso, plus locations in California, Florida, South Carolina, Michigan and Wisconsin.
XLerate CEO, Cam Hitchcock, stated, “EPI is the latest step in XLerate’s plan to grow our footprint and service offerings by acquiring quality independent businesses. This acquisition broadens XLerate’s presence in the robust Texas market and augments our capabilities to service fleet/lease and financial institution customers.”
“We are excited about this latest acquisition for XLerate,” said Greer Love, Huron Capital Vice President. “We have been hard at work with Cam and the XLerate team to identify and invest in businesses like EPI, and plan to continue pursuing our buy-and-build strategy in the auto auction space.”
About Huron Capital Partners LLC
Based in Detroit, Huron Capital Partners is an operationally-focused private equity firm with a long history of growing lower middle-market companies through our proprietary ExecFactor® buy-and-build investment model. We prefer complex situations where we can help companies reach their full potential by combining our operational approach, substantial capital base, and transaction experience with seasoned operating executives. Founded in 1999, Huron Capital has raised over $1.1 billion in capital through four committed private equity funds and invested in over 100 companies, and our portfolio companies have employed over 11,000 people throughout North America. The Huron Capital 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 Capital targets both majority and less-than-majority equity stakes in fundamentally-sound companies that can benefit from the firm’s operational approach to creating value. Huron Capital’s sector focus includes business services, consumer products & services and specialty manufacturing. For more information, please visitwww.huroncapital.com.
SOURCE Huron Capital Partners LLC