This year, it expanded outside North America with the acquisition of Belgian online auction company CarsOnTheWeb, which it has rebranded as ADESA Europe. Before that deal, KAR's European presence was limited to the United Kingdom, with its ADESA UK business unit. With the purchase, KAR gained a foothold across much of Europe, with sales operations in Belgium, France, Germany, Italy, the Netherlands and Spain, and connected sellers in those countries with buyers in 50 European countries. The company's online and mobile tools are available in 19 languages.
"The 'Global' speaks to a more globally minded, technology-driven, data-driven set of offerings, which is where our business has been headed over the past number of years," Peter Kelly, president of KAR and co-founder of Openlane, said of the rebranding.
With the rebranding, KAR has updated its logo to feature a large "K" that's been designed to look like a race car driver, which the company said is a nod to its "fast culture" and the racing heritage of its Indianapolis-area home.
"If you think about Indianapolis and our business, and then our culture, a lot of that is centered around speed," Hallett said. He added that the Indianapolis 500 attracts drivers and fans from around the world. Likening KAR to Indy 500 drivers, Hallett said: "Think of an entrepreneurial culture -- fast and fearless, and in the lead."