Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised America’s Auto Auction (AAA) and Auction Credit Enterprises (ACE), portfolio companies of Trinity Hunt Partners (Trinity Hunt), on their sale to XLerate Group (XLerate), a portfolio company of Brightstar Capital Partners (Brightstar). AAA is a leading vehicle auction provider headquartered in Dallas, and ACE is a vehicle financing provider. The transaction was led by the Harris Williams Transportation & Logistics (T&L) Group, including Jershon Jones, Jason Bass and George Stephenson.
“AAA has built an impressive platform with a strong reputation for providing best-in-class vehicle remarketing services,” said Jershon Jones, a managing director at Harris Williams. “It was a pleasure working with the teams at AAA, ACE and Trinity Hunt on this transaction, and we look forward to watching the companies continue to thrive in partnership with XLerate and Brightstar.”
“The AAA and ACE transaction highlights investors’ ongoing interest in platforms of scale in the automotive sector and represents another exceptional outcome for the Harris Williams T&L Group,” added Jason Bass, a managing director at Harris Williams.
AAA is a leading full-service vehicle auction services provider that facilitates the remarketing of vehicles. Based in Dallas, AAA facilitates the selling and buying of vehicles, primarily via 23 physical auction sites across 15 states. The company also has a financing affiliate, ACE.
Trinity Hunt is a growth-oriented middle market private equity firm focused on partnering with business owners to build world-class business, healthcare and consumer services companies. With over $1.2 billion of assets under management, Trinity Hunt has earned a reputation for providing the strategic, operational and financial expertise to take entrepreneurial services companies to the next level.
XLerate is a leading full-service auction services provider that facilitates the remarketing of vehicles, delivering a critical liquidity function to the vehicle sales ecosystem. Based in Carmel, Indiana, XLerate facilitates the selling and buying of vehicles at physical auction sites across 13 states as well as on digital platforms. The company also has a full-service financing affiliate, XL Funding. The company's daily mission is simple and straightforward: provide the highest quality service and operational execution for dealers and institutional customers.
Brightstar is a private equity firm focused on partnering with exceptional families, founders, entrepreneurs and management teams where the firm is ideally positioned to drive value creation. Brightstar employs an operationally intensive approach that leverages its extensive experience and relationship network to help companies reach their full potential.
Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc. (NYSE: PNC).
The Harris Williams Transportation & Logistics Group serves companies in a broad range of attractive niches, including third-party logistics (3PL), automotive and heavy-duty vehicle, transportation equipment, and truck, rail, marine and air transportation. For more information on the firm’s T&L Group and other recent transactions, visit the T&L Group’s section of the Harris Williams website.
Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd is a private limited company incorporated under English law with its registered office at 8th Floor, 20 Farringdon Street, London EC4A 4AB, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. Corporate Finance Advisors GmbH is registered in the commercial register of the local court of Frankfurt am Main, Germany, under HRB 107540. The registered address is Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany (email address: hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH conduct business.
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