October 7, 2021
Posted October 7, 2021 - Denver, CO
W.G. Nielsen & Co., a leading investment banking firm headquartered in Denver, announced today that it acted as financial advisor to Brightstar Capital Partners (“Brightstar”) in its acquisition of XLerate Group (“XLerate”).
XLerate is a leading full-service used-car auction services provider that facilitates the wholesale remarketing of used vehicles for B2B customers, delivering a critical liquidity function to enable the used car sales ecosystem. Based in Carmel, IN, XLerate facilitates the selling and buying of used vehicles at fixed site and mobile auctions sites across 13 states, as well as on digital platforms.
“We’re excited to partner with CEO Cam Hitchcock and Xlerate’s experienced and talented team to fuel the Company’s growth in this fragmented industry,” said Andrew Weinberg, Founder and CEO at Brightstar. “Combining management’s unparalleled knowledge of the auto industry with our resources and network of relationships, we aim to add value for XLerate’s customers and employees as well as our investors.”
“We are thrilled to join forces with Brightstar to scale XLerate even further,” said Mr. Hitchcock. “Their team’s relationship-driven approach is perfectly suited for the auction industry, and Brightstar’s prior experience in a related vertical and operational acumen will facilitate new opportunities for us.”
“We are proud to have worked side by side with the Brightstar team on this acquisition and look forward to continuing to leverage our auto sector expertise as Brightstar and XLerate’s management expand operations across the Country.” said Ron Barber, Managing Director of W.G. Nielsen & Co.
About XLerate Group
XLerate Group is a leading full-service used-car auction services provider that facilitates the wholesale remarketing of used vehicles for B2B customers, delivering a critical liquidity function to enable the used car sales ecosystem. Based in Carmel, IN, XLerate facilitates the selling and buying of used vehicles at physical auction sites across 13 states as well as on digital platforms. The Company also has a full-service dealer floorplan affiliate, XLFunding. The company’s daily mission is simple and straightforward: provide the highest quality service and operational execution for dealers and institutional customers. For more information, please visit www.xlerategroup.com.
About Brightstar Capital Partners
Brightstar Capital Partners is a private equity firm focused on partnering with exceptional families, founders, entrepreneurs and management teams where the firm is ideally positioned to drive value creation. Brightstar employs an operationally intensive approach that leverages its extensive experience and relationship network to help companies reach their full potential. For more information, please visit brightstarcp.com.
About WG Nielsen
W.G. Nielsen & Co. is one of the Rocky Mountain region’s premier FINRA-registered investment banking firms, specializing in mergers and acquisitions and innovative capital solutions. Founded in 1996, Denver-based W.G. Nielsen & Co. is the oldest independently owned investment banking firm in the region. The firm differentiates itself with a staff of senior investment bankers who have broad experience and important relationships in their areas of expertise. The firm’s bankers have collectively closed hundreds of transactions throughout the United States and internationally. www.wgnielsen.com