Used Car News

Two industry veterans launched a new auction group after purchasing independent sales in the South.

Keith Lelux and Steve Simon debuted American Auto Auction Group LLC with the acquisitions of Charleston Auto Auction in Moncks Corner, S.C., and Rea Brothers Mid-South Auto Auction in Pearl, Miss.
“Keith and I have been working on this for about a year,” Simon said.
“We’re on our way. The adventure has started.”
Simon will serve as CEO and a director of the company. Lelux is also a director and will serve as chief operating officer.
The pair ran the Canadian Auction Group in the 1990s before selling it to ADESA in 2000. They also owned floor planner Auction Finance Group, which was sold to Auto Use in the same year.
Simon had a non-compete clause that expired only a couple of years ago.
Lelux stayed in the business as part-owner of the Charleston sale. He served as ServNet president in 2008-09.
Simon said he and Lelux began talking to independent auctions a couple of years ago, but there was little selling interest,.
More independent auction owners considered exit strategies last year.
Simon said many independent auctions are family businesses and their owners are concerned about preserving the values they were built on. Simon said the auction group will maintain those values.
“When a family name is on the wall on an auction, it will stay on the wall,” he said.
Simon said Bill McCready and Laura Taylor will continue in their leadership roles at Charleston Auto Auction. The company will be based in Charleston, so Lelux will still oversee operations at the sale. John Rea will continue as general manager at Rea Brothers Mid-South Auto Auction, with Kenny Rea and Jimmy Rea serving as consultants.
In a press release announcing the venture, Lelux said the venture will have a “far-reaching impact on the automotive remarketing industry.”