Huron Capital-backed XLerate buys Lone Star Auto Auction

XLerate Group, a portfolio company of Huron Capital, has acquired Lubbock, Texas-based Lone Star Auto Auction, an operator of a seven-lane auction building that serves car dealers. No financial terms were disclosed.

PRESS RELEASE

Detroit, MI – December 2, 2016 – Huron Capital Partners LLC (“Huron Capital”) announced today that its portfolio company, XLerate Group (“XLerate”), has acquired Lubbock, Texas-based Lone Star Auto Auction (“LSAA”). The deal marks the fourth add-on acquisition for XLerate in partnership with Huron Capital, and the third in 2016.

LSAA currently operates a seven-lane auction building in Lubbock, serving automotive dealers within a 350-mile radius (primarily in Texas, New Mexico and Oklahoma, as well as Arizona). The LSAA location will complement XLerate’s existing sites in Dallas, Austin (2), and El Paso. Including LSAA, XLerate has 17 auto auction sites in California, Florida, Michigan, South Carolina, Texas and Wisconsin.

“We think LSAA is an excellent addition to the XLerate lineup,” said Cam Hitchcock, CEO of XLerate. “With five sites in Texas, XLerate is well-positioned to continue serving dealers in the Southwest, and we remain active in our search for additional geographically strategic, owner-operated auctions that fit our existing platform.”

“With three add-on acquisitions in 2016, we are excited about XLerate’s buy-and-build model,” said Greer Love, Huron Capital Vice President. “We think XLerate’s strategy is attractive to operators who are looking to join a growing network of auto auctions in order to share best practices and benefit from our nationwide platform.”

About Huron Capital Partners LLC
Based in Detroit, Huron Capital 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 120 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 visit www.huroncapital.com.

About XLerate Group
XLerate Group a leading nationwide auction and remarketing facilitation company. XLerate facilitates transactions between buyers and sellers at its Internet-enabled physical and private label remote sales in California, Texas, Florida, South Carolina, Michigan, and Wisconsin.. For more information, visit www.xlerategroup.com.