American Auto Auction Group Partners with Baird Capital to Continue Expansion
CHARLESTON, S.C. — American Auto Auction Group recently announced a new partnership to aid its quest to acquire independent auctions throughout the country.
The group's newest agreement is with Baird Capital Partners, the U.S.-based private equity group within Baird Private Equity that manages more than $2 billion in assets.
"As a 20-year industry veteran, I am delighted to be in a growth mode again with BCP," noted American Auto Auction Group chief executive officer Steve Simon, who with Keith Lelux formed the operation with the objective of creating a nationwide auction platform.
"Our operating skills and customer-centric views, coupled with Baird's financial backing, sets the stage for an exciting growth trajectory," Simon continued.
Randy Mehl, a partner with BCP, also expressed his enthusiasm about the partnership.
"We are excited about the opportunities in the auction industry, and we are thrilled to be partnering with such a talented management team," Mehl pointed out.
"Our network of resources will assist American Auto Auction Group in becoming a market leader," he added.