NEW YORK and CARMEL, Ind. -

Private equity firm Brightstar Capital Partners said Tuesday it has completed its acquisition of XLerate Group, a deal initially announced Sept. 2.

Brightstar is now the majority owner of the auto auction and remarketing facilitation company.

“The XLerate team’s industry knowledge and operational expertise impressed us as we spent time at their auction sites around the country,” Brightstar founder and chief executive officer Andrew Weinberg said in a news release.

“This acquisition represents a phenomenal opportunity for XLerate’s customers and our investors alike, as we pool together our collective knowledge and resources to add value and grow this business,” he said.

XLerate CEO Cam Hitchcock added: “Especially with Brightstar’s support, we see enormous potential for this business and the sector as a whole.

“Our aim will be to solidify XLerate's leading market positions, and further scale in this industry through strategic investments in technology and other avenues for growth.”

Growth has certainly been the name of the game for XLerate as of late.

The company made three acquisitions in a span of just over two months.

On Sept. 17, XLerate announced it had purchased Clark County Auto Auction, which became the 15th auction brand in the XLerate family and the first in the group’s home state of Indiana.

The company announced Sept. 9 that it had purchased Greater Shreveport-Bossier Auto Auction, expanding its reach into Louisiana.

XLerate announce0d July 12 that it had purchased Liquid Motors, a move that can help bulk up the group’s digital sales.

Going back to Tuesday’s news, Brightstar partner Gary Hokkanen said: “XLerate provides liquidity to the dynamic used car industry across a number of geographic regions.

“Executing on our ‘Us & Us’ model of investing, we are excited to roll up our sleeves and work with XLerate's team as the company continues to offer innovative services to dealers and institutional customers.”