GE Capital Finances AAA Acquisition
GE Capital announced it is providing financing as part of an $88 million senior secured credit facility to support the acquisition of America’s Auto Auction (AAA) by Trinity Hunt Partners. GE Capital Markets served as co-lead arranger and joint-bookrunner on this facility, and GE Capital made an equity investment alongside the new owners.
“AAA, along with Trinity Hunt, is well positioned with this new acquisition and we are excited to be part of it,” said Bob McCarrick, chief commercial officer, GE Capital, Corporate Finance.
AAA, headquartered in Dallas, owns and operates 11 regional wholesale auctions specializing in selling new car trade-ins, aged inventory, leased vehicles, bank-owned vehicles, boats and RVs. The company was founded in 2005 and is now the country’s third largest vehicle auctioneer.