KAR Auction Services seeks expansion in the UK
KAR Auction Services, a provider of end-to-end vehicle remarketing services announced its expansion in the UK. Its wholly owned subsidiary ADESA (UK) Limited has acquired the UK based HBC Vehicle Services, which specializes in salvage vehicle auctions and related services. ADESA (UK) Limited caters to the UK automotive marketplace focusing on efficiency and technology to support franchise and independent retailers.
Jim Hallett, CEO and Chairman, KAR Auction Services said, “This acquisition is the start of our expansion into new global markets. We look forward to bringing our remarketing capabilities to the United Kingdom and beyond. KAR is unique in that we are able to offer our customers an unmatched range of automotive remarketing services: from online and physical whole car and salvage auctions to floorplan financing and a wide range of used vehicle technology solutions such as Autoniq, TradeRev and DataScan.”
Steve Hankins, Managing Director, HBC Vehicle Services said, “With KAR’s expertise and support, we are excited to step up our growth plans and continue to deliver competitive services to the salvage auction industry across the United Kingdom. We look forward to finding new ways to deliver the best products and services to all of our customers.”
Based in Carmel, Indiana, KAR Auction Services operates vehicle auction services for sellers and buyers worldwide. The KAR group of companies comprises of ADESA, Insurance Auto Auctions, Automotive Finance Corporation and additional business units. ADESA, a vehicle redistribution Company was acquired by the KAR Auction Services in 2007.