E Automotive (EINC), the parent company of EBlock, EDealer and Cars.ca, is divesting two of its U.S. physical auction locations so the company can focus on expanding its market position within the Canadian auto sector. It will continue investing in technology licensing and partnership opportunities in both the U.S. and Canada.
EINC announced Monday it has entered into an asset purchase agreement for the sale of its New Orleans, La., and Houston, Texas, auction sites to subsidiaries of America’s Auto Auction Group for about US$11 million, subject to adjustments. The deal is expected to close by the end of October.
“This divestment marks a pivotal moment for our U.S. teams and auctions, ensuring their future growth and enabling them to thrive,” said Lisa Scott, President of EBlock, in a statement. “It allows us to intensely focus on licensing and innovation.”
The company said the decision aligns with its strategy to simplify operations and concentrate on profitable growth opportunities in Canada, while continuing to pursue technology partnerships in both countries. Scott added that focusing their resources will help strengthen their leadership in Canada.
The move is part of a broader shift toward a streamlined, technology-driven model. EINC plans to invest in Canadian operations to speed up expansion and product innovation. The move will also allow EBlock to further integrate its wholesale and retail digital platforms, including EDealer and Cars.ca. It will also simplify internal processes to improve efficiency. And it will help expand the reach of its proprietary auction operating system, EOS, through licensing and white-label partnerships.
