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KAR Steps Up Vehicle Valuation Capabilities in Online Auction Platform

KAR Auction Services has plans in motion to make online remarketing platform Openlane accessible on any device and to incorporate more data and analytics into the system, newly appointed president Peter Kelly told AFN. The revamp is slated to be completed by yearend. “We want to improve the user experience to more modern interfaces that don’t only work on desktops but […]

Kar Expands Credit Facility, Acquires Brasher’s

KAR Auction Services Inc. upped its credit facility with a “syn­dicate of lenders” to $550 million, from $250 million, to facilitate the acquisition of Brasher’s Auto Auctions, according to an 8-K filed Thursday with the Securities and Exchange Commission. The news about the Brasher’s acquisition also came in on Thursday. KAR subsidiary ADESA Inc. bought […]

Manheim Seeks OK From DOJ on Multi-Platform Site

Manheim filed a request yesterday with the Department of Justice seeking confirmation that the multi-platform auction system (MPS) it is party to is in compliance with antitrust laws. The request comes on the heels of moves last month by ADESA and independent auction coalition ServNet to pull out of the MPS consortium. Regulatory concerns were […]

Henderson Named COO of Adesa Canada

Trevor Henderson has been named as the new chief operating officer at Adesa Canada, effective June 16. Since joining Adesa in 2002, Henderson has been involved in growing business and online auto remarketing programs for the auction company. Prior to becoming COO, Henderson served as vice president of business development and e-business for the company, […]