Huron Capital-backed XLerate Group has acquired Columbus Fair Auto Auction. Owned and operated by the Jacobs family since 1958, the Ohio auction joins XLerate's established group of auctions with physical and satellite sale operations in 10 other states.
CFAA was founded by Bill Jacobs in 1958. His daughter, Alexis Jacobs, has operated the business since 1982. The company's operations include a full-service, on-site body shop facility, a complete mechanical shop, a state-of-the-art reconditioning center, on-site transportation services, and many other convenient, on-site services that aid the customer.
"This acquisition bolsters XLerate's presence in the critical Midwestern market and our capabilities to service large fleet/lease and financial institution customers," XLerate CEO Cam Hitchcock said in a statement. "We are excited that (CFAA President and COO) Greg Levi and his team will join XLerate's highly talented management group. XLerate's team will benefit from Greg's deep experience in customer compliance and digitally enabled sales platforms."
CFAA is XLerate's sixth Midwestern location. The Indianapolis-based company has 21 locations across the U.S.
Huron Capital formed XLerate in 2014 to pursue a buy-and-build strategy in the rapidly changing auction industry. Under Huron Capital's ExecFactor® investment model, XLerate has continued to grow. With the addition of CFAA, XLerate will operate under 15 auction brands with fixed auction sites in California, Georgia, Ohio, Florida, Illinois, Michigan, Pennsylvania, South Carolina, Texas, and Wisconsin.