Tuesday, Jun. 09, 2020, 10:54 AM
Canadian auto auction ESP Auction and its president Alain Boisvert, along with former ADESA president and chief executive officer Stephane St-Hilaire, have acquired a majority stake in auction platform, TradeHelper.
ESP Auction is a physical wholesale auto auction in Montreal. TradeHelper is an online dealer-to-dealer auto auction platform in Eastern Canada. The two plan to combine their networks and integrate their online and physical auction services. The companies say the result will be the first independent auto auction to expand its services with its own online dealer-to-dealer auction platform.
Boisvert emphasized the increased importance of independent auto auctions to allow their dealers to buy or sell cars from their lots as well as at a physical auction location.
“TradeHelper, together with ESP’s 17 years in the auto auction industry, is the perfect combination for complete vehicle remarketing services in the Canadian market,” Boisvert said in a news release.
St-Hilaire noted that TradeHelper is a growing Eastern Canada online dealer-to-dealer platform that serves close to 5,000 car dealers.
“When you combine that with ESP’s auction expertise, strategically located real estate and best in class customer services, you have a uniquely complete and powerful remarketing service offering to the dealer community both online and at the physical auction,” St-Hilaire said.
“We are excited to join ESP and continue our growth,” said TradeHelper president Karl Tremblay.
Tremblay continued, “We look forward to offering our customers more integrated services and enhance our product and customer experience.”