CARMEL, Ind., Sept. 5 /PRNewswire-FirstCall/ -- ADESA, Inc. , North America's largest publicly traded provider of wholesale vehicle auctions and used vehicle dealer floorplan financing, announced today that ADESA Impact, a unit of ADESA's Auction Services Group, has acquired three independent salvage auctions in the state of Texas.
"These acquisitions position ADESA Impact as a major player in the second largest U.S. salvage market," said David Gartzke, CEO and Chairman of ADESA, Inc. "We anticipate the transactions will be accretive in their first full year of operation.
"Each of the Texas salvage auctions has experienced staff and solid client relationships to build upon," Gartzke continued. "We look forward to working with our new employees to continue the excellent customer service at these locations and to introduce ADESA's full range of products and services to our customers."
The Texas acquisitions allow ADESA Impact to provide service coverage in all of the state's major metropolitan areas. The auctions purchased by ADESA are:
ADESA Impact San Antonio
(Formerly Alamo City Auction Pool)
11275 S. Zarzamora, San Antonio, TX
ADESA Impact Houston
(Formerly Bayou City Auction Pool)
16602 E. Hardy Road, Houston, TX
ADESA Impact Dallas/Ft. Worth
(Formerly Dallas/Ft. Worth Cities Auction Pool)
204 Mars Road, Wilmer, TX
The terms of the transaction were not disclosed. ADESA also operates used vehicle auction sites in Austin, Dallas, Houston and San Antonio. The acquisitions bring to six the total number of auctions added to ADESA Impact this year, increasing the total number of ADESA Impact salvage auctions operating in North America to 42.
About ADESA, Inc. and ADESA Impact
ADESA Impact is the 3rd largest salvage remarketing company in North America with 42 auction facilities in the United States and Canada. Headquartered in Carmel, Indiana, ADESA, Inc. is North America's largest publicly traded provider of wholesale vehicle auctions and used vehicle dealer floorplan financing. The Company's operations span North America with 54 ADESA used vehicle auction sites, 42 Impact salvage vehicle auction sites and 85 AFC loan production offices. For further information on ADESA, Inc., visit the Company's Web site at http://www.adesainc.com .
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements, including statements regarding the position of ADESA Impact and the accretiveness of the acquisitions are subject to certain risks, trends, and uncertainties that could cause actual results to differ materially from those projected, expressed or implied by such forward-looking statements. The statements are based on assumptions about important factors including: general business conditions; market trends; competition; weather; vehicle production; trends in new and used vehicle sales; business development activities, including acquisitions; economic conditions, including exchange rate and interest rate fluctuations; litigation developments; and the other risk factors described in the company's Annual Report on Form 10-K, and other risks described from time to time in the company's filings with the Securities and Exchange Commission. Many of these risk factors are outside of the company's control, and as such, they involve risks which are not currently known to the company that could cause actual results to differ materially from forecasted results. The forward-looking statements in this document are made as of the date hereof and the company does not undertake to update its forward-looking statements.
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