Adesa, a former subsidiary of Duluth-based Allete Inc., was delisted from the New York Stock Exchange on Monday, after the Friday sale of the company to a group of private investors. The new ownership group comprises Kelso & Co.; GS Capital Partners VI L.P., an affiliate of Goldman Sachs & Co; ValueAct Capital Master Fund L.P.; and Parthenon Investors II L.P.
In a deal supported by shareholders who controlled a majority of the publicly held company, Adesa was sold for $27.85 per share.
Adesa, based in Carmel, Ind., operates North America's second-largest network of used-vehicle auction houses.
