American Auto Auction Group, a portfolio company of Baird Capital Partners, has acquired Fond Du Lac, Wis.-based Badger State Auto Auctions Inc. Terms were not released. US Bank National Association and Northwestern Mutual Capital provided financing for the transaction.
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 Badger State Auto Auctions, Inc. (Badger State). Based in Fond Du Lac, Wis., Badger State is predominantly a dealer consignment auction offering traditional auction services in addition to ancillary services such as transportation, reconditioning, financing and title services. This acquisition expands AAAG geographic reach into the Midwest and offers the potential to launch additional mobile auction sites in Wisconsin and Illinois.
US Bank National Association and Northwestern Mutual Capital provided financing for the transaction. The terms of the deal were not disclosed.
AAAG was established in early 2010 to execute an acquisition platform strategy in the whole car auction market. In addition to Badger State, AAAG has acquired Charleston Auto Auction (Moncks Corner, S.C.), Mid-South Auto Auction (Pearl, Miss.), Texas Lone Star Auto Auction (Carrollton, T.X.) 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 Badger State 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 Badger State is another step toward becoming a national full-service dealer-centric auction platform,” said Randy Mehl, BCP Partner. ”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 www.bairdcapitalpartners.com.
About American 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, South Carolina, and currently operates the following auction properties: Charleston Auto Auction in Moncks Corner, SC; Mid-South Auction in Pearl, MS; Texas Lone Star Auto Auction in Carrollton, TX; and Your Auction, Inc. in Tampa, Fla. For additional information about American Auto Auction Group call 843-579-AUTO or visit americanautoauctiongroup.com.
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