KAR Auction Services announced that its subsidiary ADESA (UK) Limited has acquired HBC Vehicle Services. Headquartered in Canvey Island, England, HBC specializes in salvage vehicle auctions and related services.
“This acquisition is the start of our expansion into new global markets, and we look forward to bringing our remarketing capabilities to the United Kingdom and beyond,” said Jim Hallett, KAR CEO and chairman. “KAR is unique in that we are able to offer our customers an unmatched range of automotive remarketing services: from online and physical whole car and salvage auctions to floorplan financing and a wide range of used vehicle technology solutions such as Autoniq, TradeRev and DataScan.
HBC Vehicle Services provides efficient salvage collection and disposal services for the UK’s top insurance, fleet and accident management companies. A leader in salvage auction technology, the company conducts business using a multitude of sales channels, including on-line auctions, and operates from 10 UK locations. With more than 50 years of experience, HBC Vehicle Services has a significant buying audience throughout Europe.
“We are and will remain dedicated to our customers,” said Steve Hankins, managing director of HBC Vehicle Services. “With KAR’s expertise and support, we are excited to accelerate our growth plans and continue to deliver competitive services to the salvage auction industry across the United Kingdom. We look forward to finding new ways to deliver the best products and services to all of our customers.”
ADESA (UK) Limited is a wholly-owned subsidiary of KAR Auction Services and is focused on bringing new products and services to the UK automotive marketplace with special emphasis on upstream remarketing services that emphasize efficiency and technology to support franchise and independent retailers.