These cookies ensure basic functionalities and security features of the website, anonymously. Necessary cookies are absolutely essential for the website to function properly. We are excited to join the EBlock team and continue to build on the momentum.”ġst, Auction, Auto, Buys, Choice, EBlock, Louisianas “We’ve always seen EBlock as a leader in empowering physical auctions to embrace digital efficiencies to meet our customers where they are and how they want to do business. “EBlock and Louisiana’s 1st Choice share a focus on delivering excellence – whether that is for the customers we serve, the people we employ, or the solutions we invest in,” John Poteet said in a news release. John Poteet is LAFCAA’s managing partner. The 34-acre auction, which is located 60 miles north of New Orleans in Hammond, La., was founded in 2002.ĮBlock plans on integrating the auction’s facilities, team and customer base into its own U.S. LAFCAA’s Gulf Coast location enables EBlock to expand its digital dealer-to-dealer marketplace in the southern United States.” The same month, the company announced it had acquired FastLane Auto Exchange, an independent auction in Michigan.Īs for the latest acquistion, McClenahan said: “Louisiana’s 1st Choice is a dealer-focused business with an experienced, forward-thinking team that is excited about the digital evolution in the automotive wholesale industry. “By connecting physical auctions and digital auctions, we are creating a network of logistics hubs that will improve our ability to serve our customers and give them the flexibility to do business where and how they prefer it.”ĮBlock announced in February it had expanded to the Southeast, making its plaform available to dealers in Alabama, Florida, Georgia, Kentucky, North Carolina, South Carolina, Tennessee, Virginia and West Virginia. “The addition of physical auctions to our digital dealer-to-dealer platform is a natural extension of our commitment to supporting the evolving needs of our dealer partners,” McClenahan said. president and chief executive officer Jason McClenahan said in a news release. Southeast market which we announced earlier this year,” E INC. This acquisition supports the launch of the EBlock platform in the U.S. “The acquisition of Louisiana’s 1st Choice is another example of us executing our land-meets-technology strategy. expansion strategy, the Toronto-based company announced Wednesday it has acquired Louisiana’s 1st Choice Auto Auction. and its EBlock dealer-to-dealer digital auction subsidiary have purchased another independent auto auction and continue to grow in the Southern U.S.Īs part of its U.S. We recognize that TPC engages exclusively with a select group of auctions around the country, and are pleased in the confidence they found with our team, facility, service and remarketing programs.”įastLane Auto Exchange holds an auction sale in the lanes and via simulcast every Wednesday at 1:30 p.m.
“Working with TPC Management is an important element in our plan to strengthen our position in the market and expand our opportunities with both buyers and sellers. “When we acquired FastLane Auto Exchange in early 2017, we felt we were in a great position to expand on the facility’s existing dealer base while building on consignments from commercial accounts in the Detroit area,” Price said. The company said a new reconditioning and mechanical facility is currently under construction, along with two additional auction lanes and administrative offices that are scheduled to open in March.
FASTLANE AUTO AUCTION PLUS
Price has started to expand FastLane’s operations at the 60 plus acre site, according to TPC. “With a facility of over 60 acres and capital investments that include expanded land development, FastLane Auto Exchange is well positioned to offer all auction services including marshalling and auction sales.”Īdditionally, the FastLane facility was recently purchased by a team led by Greg Price, a former member of the executive team at Flint Auto Auction. “With so many auto auctions being acquired by corporate chains, we are excited to be part of introducing to the industry a strong independent competitor in the Michigan marketplace,” TPC vice president of client services Jiles Wanna said in a news release. TPC said it provides strategic consulting programs to more than 50 independent auto auctions and technology and transportation companies and regularly consults with private equity and investment firms.
and has been in operation for more than 40 years.
announced that it has added FastLane Auto Exchange to its slate of auto auction clients.įastLane Auto Exchange is located in Mount Morris, Mich.