Adesa Buys Three More Salvage Auctions
Published September 6th, 2006
Adesa said Tuesday that its Adesa Impact unit acquired three independent salvage auctions in Texas.
The acquisitions bring to six the total number of auctions added to Adesa Impact this year, increasing the total number of Adesa Impact salvage auctions operating in North America to 42.
The terms of the transaction were not disclosed.
“These acquisitions position Adesa Impact as a major player in the second largest U.S. salvage market,” the Carmel, Ind.-based company said. “We anticipate the transactions will be accretive in their first full year of operation”.
The shares of the company were trading at $21.87, up 6 cents Tuesday.
