Carmel, Ind.-based KAR Auction Services subsidiary ADESA has completed the acquisition of eight auctions in the western U.S., according to a news release from the company Monday (April 4).
ADESA Inc. acquired the auctions from the Brasher family, including its floor plan financing business, for $283 million.
The acquisition was announced in February. Last month, KAR announced the acquisitions of two Florida-based auctions.
ADESA says the key corporate and local auction personnel with Brasher’s will maintain leadership roles at the auctions. The acquisition means ADESA now owns 74 whole car auction locations throughout the U.S., Canada and Mexico.
“Finalizing the acquisition of these eight auction sites is great for our customers and our employees,” said Jim Hallet, chairman and CEO of KAR Auction Services. “It allows us to provide an even wider assortment of services to dealers at these new locations and leverage the strength of the entire KAR group of companies. The Brasher family has a long history in our industry as a premier auto auction and is a great fit with our organization.”
The eight locations will be renamed to ADESA Salt Lake, ADESA Brasher’s (Sacramento), ADESA Portland, ADESA Boise, ADESA San Jose, ADESA Northwest (Eugene), ADESA Reno and ADESA Fresno.