KAR Auction Services acquires GRS Remarketing
Jim Hallett, KAR CEO and chairman, said: “During the past 20 years, GRS has established a successful online vehicle remarketing business in the UK through robust technology, effective sales and operations, a healthy buyer network and strong relationships with commercial customers. KAR is committed to international growth, and the acquisition of a leading technology business like GRS complements our wide range of vehicle remarketing services.”
GRS will be renamed ADESA UK following the completion of the sale. Jonathan Holland, vice president of business development for ADESA UK, will assume the position of managing director.
Benjamin Skuy, executive vice president of international markets and strategic initiatives for KAR, commented: “With more than 30 years in vehicle remarketing in both the UK and mainland Europe, Jonathan possesses the experience and reputation to successfully build our UK business.”
This is KAR’s second acquisition in the United Kingdom, following the purchase of salvage company HBC Vehicle Services in June 2015.