The online vehicle auction and remarketing service Copa
rt Inc. has acquired Cycle Express LLC., a California-based private company operating as National Powersport Auctions (NPA) specialized in auction and remarketing services in the powersports industry, the companies announced in a press release Monday.
NPA currently operates facilities in Atlanta, Cincinnati, Dallas, Philadelphia, and San Diego.
“NPA is the leader in the powersports auction industry and shares our ownership mindset, commitment to challenging the norm, and focus on delivering results,” Copart’s Chief Executive Jay Adair said in the release.
Copart Inc., headquartered in Dallas, Texas, is a provider of online vehicle auction and remarketing services in the United States, Canada, and the United Kingdom. Copart’s customers are principally used-vehicle dealers, dismantlers, rebuilders, and exporters. Copart also purchases vehicles directly from the general public for resale through its Copart Direct division.
Cliff Clifford, chief executive of NPA, expressed his optimism in this M&A deal.
“We are very excited about teaming up with Copart,” he said. “Leveraging Copart’s resources and capabilities with NPA’s industry expertise and market leadership will allow us to kick NPA into high gear. We’re looking forward to taking NPA to a whole new level of growth and success.”
Separately, at the end of 2016, NPA moved to a larger facility in Dallas, Taxas. The new location occupies more than 140,000 square feet and accommodates 2,000 motorcycles, ATVs, side-by-sides, personal watercraft, boats, trailers, and RVs. In the meantime, NPA opened its fifth facility in Bristol, Pennsylvania — just 29 miles from the Philadelphia airport — in December 2016 and hosted its inaugural dealer-only event there in January 2017.
