TORONTO -

E Automotive Inc. and its EBlock brand have purchased the FastLane Auto Exchange independent auto auction.

The acquisition of FastLane, located in Mount Morris, Mich., expands EBlock’s footprint to the Midwest, and better positions the company for facilitating cross-border dealer-to-dealer transactions.

“The acquisition of FastLane Auto Exchange uniquely strengthens our wholesale marketplace, EBlock, in both Canada and the U.S., allowing it to offer the only cross-border dealer-to-dealer digital auction platform with an end-to-end solution for cross-border buyers,” E Inc. president and chief executive officer Jason McClenahan said in a news release.

“FastLane’s relentless focus on its clients’ changing needs is demonstrated by its strong hold in the U.S. Midwest,” McClenahan said. “The acquisition expands our platform and enhances the customer experience and services we can offer as we continue to develop innovative and streamlined auction solutions.”

EBlock said close to 20% of the vehicles in its Canadian marketplace moves to the U.S. and are resold at auto auctions.

Having a brick-and-mortar location like FastLane gives EBlock “prime real estate for enabling a seamless end-to-end experience for our buyers to resell vehicles once they have crossed the border,” the company said in a news release.

EBlock plans to make FastLane its anchor in the Midwest, allowing it to enable more digital dealer-to-dealer transactions. It would also help facilitate further growth in the Midwest, including adding Iowa, Illinois, Michigan, Missouri, Minnesota, Ohio, Wisconsin and more to the mix.

“EBlock and FastLane share a dedication to the customers we serve, making this a big win for all,” FastLane managing partner Greg Price said in a news release.

“EBlock has a proven track record for supporting the dealers' culture within the brick-and-mortar facility and empowering them with a digital marketplace that replicates live physical auctions in a completely virtual format,” Price said. “We are excited to join EBlock’s highly experienced team and look forward to providing new digital options for our customers to accelerate growth in our market.”