Carmel, IN and Dallas, TX, February 24, 2022 – XLerate Group (XLerate), the parent company of America’s Auto Auction (AAA), Auction Credit Enterprises (ACE), XLerate Auctions and XL Funding (XLF), has named Chris Burton President of Auction Credit Enterprises and XL Funding, bringing both floor plan finance companies under common leadership. Burton previously served as Chief Operating Officer of ACE, headquartered in Dallas, TX.
XLerate CEO Cam Hitchcock commented, “Chris helped ACE grow its footprint from 5 to 14 markets served and enhanced the customer experience by establishing a dealer portal. These efforts led to a three-fold increase in ACE’s loan portfolio and six-fold increase in their earnings.”
“With both ACE and XLF providing services for floor plan financing, integrating our resources will benefit current customers and pave the way for future growth,” said Burton. “I am honored to lead these companies and plan to focus our vision going forward on the continued evolution of our customer experience and service offerings.”
“We’re happy to have Chris’ industry expertise and strong leadership as we integrate these two floorplan companies,” added Hitchcock. “His talents will enhance our ongoing commitment to introduce products and services that facilitate growth for our dealer customers.”
Burton is a CPA with a B.A. in Finance from Southern Methodist University and an M.S. in Accounting from the University of Texas-Dallas. He began his career in public accounting, managing the America’s Auto Auction financial statement audit for four years. He continued his work at KPMG assisting private equity and strategic clients on both buy-side and sell-side engagements in a wide variety of financial advisory services and joined the AAA organization in 2015.
About America’s Auto Auction
America’s Auto Auction merged with the XLerate Group Auctions in December 2021, creating the third largest auction group in the country. Based in Carmel, IN and Dallas, TX, the company facilitates vehicle transactions at 39 physical auction sites and 6 mobile sales across 19 states, supplemented by digital platforms. The company is majority-owned by affiliates of Brightstar Capital Partners.
About XL Funding
XLFunding is a floorplan company servicing the automotive remarketing industry by financing inventories sold to dealers www.XLFunding.com.
About Auction Credit Enterprises
Auction Credit is a floorplan company servicing the automotive remarketing industry by financing inventories sold to dealers. www.AuctionCredit.com.
XLerate Group Contact
Cam Hitchcock, CEO