America’s Group expands to New Jersey with latest auction acquisition
America’s Group has added another state to its auto auction footprint: New Jersey.
The rapidly expanding auto auction company said Wednesday that it has acquired Car-Tech Auto Auction in Freehold, N.J., located roughly 60 miles northeast of Philadelphia and about 50 miles south of New York.
The addition of Car-Tech expands America’s Group’s presence to 20 states.
And importantly, it strengthens its position in the Northeast. America’s Group has four auctions in Pennsylvania and one in Massachusetts, but this move gives the group a presence near two more of the largest metro areas along the I-95 corridor.
“We are excited to expand into the New Jersey market with the acquisition of Car-Tech Auto Auction,” said Chuck Tapp, CEO of America’s Group, in a news release. “This move strengthens our commitment to growth and our ability to serve dealers and institutional customers nationwide.”
Lou Rapuano is the owner of Car-Tech and his sons, Louis and Bobby, are co-general managers. They run day-to-day operations of the business and will remain with America’s Group.
“Working with America’s Auto Auction on the sale of Car-Tech Auction has been a pleasure,” Lou Rapuano said in a news release. “I am confident that this new venture will create many opportunities for our customers and enhance the exposure and sale of their vehicles.”
He added: “I’m also happy that my sons, Louis and Bobby, will remain with America’s Auto Auction to help grow the business in New Jersey.”
The purchase of Car-Tech comes just over two weeks after America’s Group bought AuctionvCommerce, a tech platform provider in the auto auction space.
America’s Group purchased Z66 Tulsa Auto Auction, Motley’s Richmond Auto Auction, San Antonio Auto Auction and Corpus Christi Auto Auction in span of two months last year.