ADESA Company History
ADESA has been a vehicle remarketing industry leader for more than 20 years.
ADESA entered the vehicle redistribution industry in 1989 and first became a public company in 1992. ADESA remained a public company until 1996 when ADESA was acquired by ALLETE, Inc. ("ALLETE"). At that time, ADESA operated 19 used vehicle auctions and 19 AFC loan production offices.
In April 2007, ADESA was acquired by a private equity group, KAR Auction Services, Inc. Since then, ADESA has grown the business, organically and through acquisition, into a leading vehicle redistribution company in North America, operating throughout the United States, Canada and Mexico.
Growth milestones include:
KAR Auction Services Announces the Closing of OPENLANE Acquisition
KAR Auction Services Acquires AuctionTrac
ADESA Breaks Ground on New Auction Facility in Las Vegas
ADESA Acquires Six Used Vehicle Auctions from Premier Auction Group
ADESA Opens New Auction Facility in Cincinnati
ADESA Opens New Auction Facility in Miami
ADESA Adopts NAAA Arbitration Policy
KAR Auction Services Prices Initial Public Offering of Common Stock
KAR Auction Services Commences Initial Public Offering of Common Stock
KAR Holdings Changes Name to KAR Auction Services
ADESA Creates New Dealer Services Division
ADESA Opens New Used Car Auction in Guadalajara, Mexico
ADESA Builds New Facility in Dallas
ADESA Builds New Facility in Kansas City
Acquired Internet-based auction software company; renamed LiveBlock Auctions International, Inc.
Acquired two used vehicle auctions in Minneapolis, Minn., and Nashville, Tenn.
Opened greenfield auction outside Raleigh, N.C.
Broke ground on new used vehicle facility in Kansas City, Missouri.
Acquired used vehicle auction in York, Penn.
Acquired dent-removal company, Dent Demon
Acquired three used vehicle auctions located in Syracuse, N.Y., Fargo, N.D., and Sioux Falls, S.D.
Acquired a used vehicle auction in Quebec City.
ADESA acquired by a group of private equity funds, KAR Auction Services, Inc.
Acquired N.E. Penn Salvage Company, an independently owned salvage auction in northeast Pennsylvania.
Acquired a used vehicle auction in the Sarasota, Florida, area.
Opened new salvage auction in Syracuse, N.Y.
Acquired three independent salvage auctions in the state of Texas, located in Houston, San Antonio and the Dallas/Ft. Worth area.
Acquired four salvage auctions in Ohio known as the Ohio Connection. Acquired an independently owned salvage auction near Charlotte, North Carolina.
Acquired a Washington, D.C. area used vehicle auction.
Opened new salvage auctions in Connecticut and Florida (both Clearwater and Orlando area).
Relocated Calgary salvage auction to a larger site.
Opened a salvage auction in Sacramento, California co-located with ADESA.
Relocated a used vehicle auction in Atlanta, Georgia and opened salvage auctions in Long Island, New York and Fremont, California.
Opened a new used vehicle auction in Long Island, New York and acquired an independently owned salvage auction near Raleigh, North Carolina.
Acquired eight salvage auctions from Auto Placement Center. These auctions are located in Rhode Island, Massachusetts, Maine, New Hampshire, Vermont and New York.
Acquired nine used vehicle auctions from Manheim Auctions, Inc. ("Manheim") as part of a required divestiture. These auctions are located in close proximity to Atlanta, Clearwater, Colorado Springs, San Francisco, Kansas City, Orlando, Phoenix, Tampa and Seattle.
Acquired Canadian Auction Group, Inc., a used vehicle auction chain consisting of 13 locations in Canada. These auctions are located in or near Calgary, Dartmouth, Edmonton, Kitchener, Les Cedres, Saskatoon, St. John's, Toronto, Winnipeg, Moncton, Hamilton and Vancouver.
Acquired Impact Auto Auctions, Ltd., a salvage auction chain in Canada was acquired in four stages: 20 percent of the company was purchased in October 1995, 33.33 percent was purchased in each of March 1999 and January 2000 and 13.34 percent was purchased in May 2000. Impact Auctions, Ltd. consisted of nine auctions that are located in Calgary, Edmonton, Halifax, London, Moncton, Montreal, Ottawa, Sudbury and Toronto.
ADESA Acquired AFC.
ADESA Corporation was incorporated in Indiana on October 4, 1991. ADESA, Inc., was incorporated in the state of Delaware on January 23, 2004. On May 24, 2004, ADESA Corporation, then a wholly owned subsidiary of ALLETE, was merged into ADESA, Inc., another wholly owned subsidiary of ALLETE. ADESA's initial public offering of 6,250,000 shares of common stock was declared effective by the Securities and Exchange Commission ("SEC") on June 15, 2004. On September 20, 2004, ALLETE completed the distribution of a stock dividend to all ALLETE stockholders totaling 88,600,000 shares, completing the separation of ADESA from ALLETE.