CARY, N.C. -

XLerate Group has purchased Liquid Motors, the auction group said Monday.

It’s a move that can help bulk up XLerate’s digital sales, which the company says have seen significant growth in the last five years.

In a news release, XLerate chief executive officer Cam Hitchcock said Liquid Motors management will continue to operate the company.

“We have come to know and trust Liquid Motors and the Liquid Motors team as a critical enabler of our multi-platform digital offering, which has grown explosively at XLerate and many other independent auctions,” Hitchcock said.

“Michael Daseke and his core team are go-to resources for the auction community, and this team will continue to operate Liquid Motors as a highly independent service provider to auctions, dealers, and other consignors,” Hitchcock continued.

Daseke added in the release: “Becoming part of XLerate met several of our family’s personal and professional objectives. XLerate is a well-respected and innovative group that will invest in Liquid Motors’ technological capabilities and, at the same time, provide Liquid Motors with the independence and confidentiality it needs to be a trusted industry service provider. This is a great outcome for both Liquid Motors, its many customers, and the remarketing industry.”   

Liquid Motors was founded in 2006 and is headquartered in Richardson, Texas.

XLerate executive vice president and chief revenue officer Chuck Tapp shed some light on the digital benefits to bringing Liquid Motors into the fold.

“XLerate will benefit from the deep insight into various digital strategies that Liquid Motors is familiar with given its market visibility. Digital transactions have grown tremendously at XLerate over the last five years, and digital is a key component of XLerate’s omnichannel, go-to-market strategy,” Tapp said.

“The Liquid Motors acquisition will bolster our digital sales capabilities and transform our go-to-market strategy for other business segments,” he said. “Liquid Motors provides us the opportunity to enhance and increase the unique value and capabilities to service our existing dealer, commercial, and institutional customers as well as potential prospects for whom we have previously been unable to provide solutions. The Liquid Motors platform allows us to integrate any auction functionality seamlessly.”