Daily News: April 14, 2015

Trinity Invests in America’s Auto Auction

Trinity Hunt Partners (THP), a Dallas-based private equity firm, announced the acquisition of a majority stake in America’s Auto Auction (AAA), a wholesale automobile auction company. Trinity Hunt will partner with America’s Auto Auction CEO Ben Lange and CFO Dustin Miller, who will remain shareholders, to recapitalize the business and position the company for continued growth.

“We are excited to partner with the exceptional management team at America’s Auto Auction,” said Dan Dross, managing partner of Trinity Hunt. “Through its rapid growth over the last 10 years, AAA has become one of the largest providers of automobile remarketing services in the country. We look forward to working with Ben and Dustin to help the company continue to grow and enhance the range of services provided to buyers and sellers of vehicles.”

Trinity Hunt Partners also has acquired a minority stake in Auction Credit Enterprises (ACE), a floor plan finance company that was founded by the America’s Auto Auction management team in 2006 to provide short-term, asset-backed inventory financing to dealers who buy auction vehicles.

“The Trinity Hunt team will serve as a key partner in our continued growth,” said Ben Lange, CEO of America’s Auto Auction. “Their significant resources will enable us to expand our reach and capabilities. We especially appreciate Trinity Hunt’s partnering approach to investing, where they assist the company strategically but leave the day-to-day decision making up to our management team and our general managers at the different auction locations.”

Dallas-headquartered America’s Auto Auction specializes in conducting wholesale auctions of automobiles from franchised new car dealers, fleet lease businesses and repossession companies to used car dealers.