The Car and Truck Fleet and Leasing Management Magazine

ADESA to Acquire Brasher Auctions for $283M

February 17, 2016


ADESA, Inc., has signed an agreement to acquire eight Brasher family auctions for $283 million under an agreement announced by parent KAR Auction Services.

ADESA is acquiring Brasher’s Salt Lake, Brasher’s Sacramento, Brasher’s Portland, Brasher’s Boise, Brasher’s San Jose, Brasher’s Northwest, Brasher’s Reno and Brasher’s Fresno. Brasher’s key corporate and local auction personnel will maintain leadership roles across the Brasher auctions.

In 2015, Brasher’s sold approximately 190,000 vehicles, generating revenue and EBITDA of approximately $140 million and approximately $34 million, respectively. In addition to its physical auction services, Brasher’s also provides floor plan financing to its customers and has a loan portfolio of approximately $55 million.

The closing of the transaction is subject to customary conditions, including the expiration or termination of the Hart-Scott-Rodino waiting period. KAR expects to finance the transaction with available cash and proceeds from its revolving credit facility. The transaction is expected to close in the first quarter of 2016.

Commenting on the acquisition, KAR Chairman of the Board and CEO Jim Hallett said, “The Brasher family is one of the most highly respected families in our industry. It is a tremendous honor that they have agreed to become part of ADESA. Brasher’s is a premier auto auction with a strong management team that shares our passion for the auction business and desire to provide the best customer service possible. I am also pleased that the members of the Brasher family and other leaders in their business have agreed to join our management team.”

Speaking on behalf of the Brasher family, John Brasher said, “For 67 years, Brasher’s has been synonymous with outstanding auto auctions. We take that commitment to our employees and our customers personally, and do not approach this sale of our auctions lightly. We fully believe that our auctions will reach even greater levels of excellence as part of ADESA.”

Stéphane St-Hilaire, CEO and President of ADESA added, “Brasher’s is a leader among independent auctions with a strong mix of commercial and dealer consignment customers. Along with increasing ADESA’s footprint in three new states, the addition of Brasher’s enhances ADESA’s physical and online buyer bases. It also increases our ancillary services, while enabling our sister company, AFC, to develop a presence at Brasher’s eight auction locations. As part of the KAR group of companies, we plan to offer Brasher’s customers the complete suite of KAR’s end-to-end vehicle remarketing services.”

Twitter Facebook Google+


Please note that comments may be moderated. 
Leave this field empty:

Fleet Incentives

Determine the actual cost of owning and running a vehicle in your fleet. Compare vehicles by class and model.


Fleet Faq Fuel Management

Bernie Kanavagh from WEX will answer your questions and challenges

View All


Fleet Tracking And Telematics

Todd Ewing from Fleetmatics will answer your questions and challenges

View All


Fleet Management And Leasing

Merchants Experts will answer your questions and challenges

View All


Sponsored by

PHH, a leasing company that began shortly after World War II, was later renamed as PHH Arval and eventually sold to Toronto-based Element Fleet Financial in 2014. The North American operation was renamed as Element Fleet Management.

Read more

Up Next

More From The World's Largest Fleet Publisher