December 26, 2013

Manheim Auctions Developments

Manheim is the world’s largest, most consolidated wholesale vehicle marketplace. It has 106 operating locations around the world and it has several branches in California, namely Manheim South California, Central California, San Francisco Bay etc. Such a huge project attracts the attention of qualified buyers and driven sellers to meet at live, competitive auctions. They also provide variety of services like reconditioning, certification, dealer financing, inspection and much more.

Manheim has taken many bold initiatives and made wise investments starting from 1945 when they bought first Manheim auto auction in Pennsylvania, till last year, when they purchased Dealer Service Corporation and Ready Auto Transport.

In 2000, Manheim took the most audacious step of all and finally acquired their rivals ADT automotives and its 28 U.S auctions from Tyco International Inc. for about $1 billion. Despite the reservations of ADESA and other rival firms, it proved to be a promising step. After the merger, Manheim consisted of 86 North American auctions and 126 business units’ world and around 40,000 employees including ADT’s.

The transition proved to be very harmonious and ADT employees were welcomed like a family, most of them were going to be key executives. Dennis Berry, CEO of Manheim auctions, said that the merger would be a success because these two combines were similar in many ways. He added that both companies had rich historic backgrounds, excellent facilities and most of all tenacious professionals. He proclaimed that the combination of both will assure a successful future for Manheim.