Car public sale and remarketing firm XLerate Group stated Wednesday it has signed an settlement to amass America’s Auto Public sale, one other main public sale firm.

As soon as mixed, Carmel, Ind.-based XLerate and Dallas-based America’s Auto Public sale can have 39 public sale websites unfold throughout 19 states. The deal is predicted to shut by the top of the 12 months.

Monetary particulars of the transaction weren’t disclosed. Members of XLerate’s govt staff, together with CEO Cam Hitchcock, will step in to supervise the corporate.

“The impartial automobile public sale sector is poised for vital progress, as client demand expands, and expertise continues to boost the remarketing course of,” Hitchcock stated in a press release.

Hitchcock stated the 2 corporations will work to develop a platform that “additional redefines the remarketing business” and leverages bodily and digital features of the public sale course of.

Brightstar Capital Companions, a personal fairness agency based mostly in New York, locked down XLerate in a late September acquisition. Brightstar will act as controlling shareholder of the XLerate-America’s Auto Public sale mixed firm, in keeping with a information launch.

“Our funding in [America’s Auto Auction], following our earlier acquisition of XLerate, clearly signifies our confidence within the automobile public sale market and its value-creation potential for Brightstar traders,” Brightstar CEO Andrew Weinberg stated in a press release.

It was not instantly clear whether or not the 2 public sale corporations will rebrand as a brand new firm or preserve their very own names. Automotive Information has reached out to Brightstar for additional remark.