LUBBOCK, Texas and INDIANAPOLIS –
Boosting its presence in Texas, the XLerate Group on Thursday announced it has added a new member to its auction family with the acquisition of Lone Star Auto Auction (LSAA).
Company leadership highlighted the Lubbock-based auction complements XLerate’s existing Texas locations in Dallas and El Paso as well as the two sites in Austin. XLerate Group also maintains sales in California, Florida, South Carolina, Michigan and Wisconsin.
“LSAA represents yet another step in XLerate’s plan to grow our business, footprint and service offerings by acquiring high quality independent sales with strong management,” XLerate chief executive officer Cam Hitchcock said.
“Formerly owned by Jim McNulty, LSAA is the dominant auction in west Texas and offers both dealer and commercial consignors another turnkey XLerate option in the critical Texas market.” Hitchcock continued, “This acquisition bolsters our capabilities to service fleet/lease and financial institution customers.
“We are honored that Dale Martin and his LSAA team will join XLerate’s operating management team and that Jim McNulty has entrusted XLerate Group with his highly respected sale and team,” Hitchcock went on to say.
LSAA commenced operations in 1985. The auction has dealer consignment, fleet/lease and financial institution sales each Wednesday at its Lubbock, Texas, facility.
LSAA operates a seven-lane arena, reconditioning facility, and mechanical shop situated on approximately 111 acres.
“Joining the XLerate Group is exciting for me, and for the LSAA auction family,” said Martin, who is LSAA’s general manager. “A geographically diverse group of sales like XLerate will provide a wide-range of growth opportunities for both our employees and our business.”
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