DULUTH, Minn. (PRNEWSWIRE) — ALLETE, a multi-services company with holdings that include the second largest wholesale automobile auction network in North America, and its automotive subsidiary, ADESA Corporation, have signed definitive agreements to acquire all of the outstanding stock of ComSearch, Inc. and all of the assets of Auto Placement Center, Inc. (APC), respectively, in an overall transaction valued at $62.4 million, ALLETE officials said.
According to ALLETE, the acquisition of APC, an auto salvage auction company, includes eight salvage auctions. The eight auctions are located in Albany, N.Y.; Manchester, N.H.; East Providence, R.I.; Saco, Maine; Clinton, Maine; Taunton, Mass.; Newburgh, N.Y.; and Burlington, Vt.
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ComSearch, Inc., also based in Rhode Island, provides Internet-based parts location and insurance adjustment audit services nationwide.
With the addition of APC, ALLETE will become the third largest salvage auction company in North America, said Jim Hallet, executive vice president of ALLETE and president of ADESA.
