The auto recycling company and remarketing firm Copart, headquartered in Dallas has acquired the vehicle remarketing firm QCSA Holdings Inc., Davenport, Iowa, from the private equity firm Kinderhook Industries. Financial terms of the transaction were not disclosed.
QCSA Holdings has grown through the consolidation of four acquisitions. The company processes more than 100,000 vehicles per year through 39 auction facilities in 14 states. QCSA Holdings operates under the brand names Quad City Salvage Auction, Crashed Toys and Desert View Auto Auction.
Paul Cifelli, managing director at Kinderhook, says, “QCSA’s outstanding management team was able to execute upon its growth strategy, which was accelerated through a successful buy-and-build initiative. The breadth and scale of QCSA operations offers significant strategic value to Copart. QCSA is well-positioned to continue to expand its business under Copart’s leadership.”
Copart operates 203 facilities with operations in the United States, Canada, the United Kingdom, Brazil, Germany, and the United Arab Emirates.
John Lindle, CEO of QCSA, says, “QCSA is excited to be joining forces with Copart as the company enters its next phase of growth. Copart has a long-standing focus on the salvage sector and understands our industry. The Kinderhook team fully supported the company’s growth strategy through both organic growth and strategic acquisitions. Our partnership with Kinderhook has been pivotal in getting QCSA to this important day.”
Cor Carruthers, managing director at Kinderhook, says, “The sale of QCSA demonstrates Kinderhook’s investment strategy of partnering with strong management teams and building successful companies that attract strategic buyers. The employees and management team of QCSA have built an agile organization which provides high quality service to its customers. We are confident that the QCSA team together with Copart will continue to build on that legacy.”