IAA Expands in Indiana, Kansas, Utah, Minnesota, Virginia, and Alabama
Published August 16, 2017 - Written by IAA, Inc.
WESTCHESTER, Ill. – August 16, 2017 – Insurance Auto Auctions, Inc. (IAA), a business unit of KAR Auction Services, Inc. (NYSE: KAR), and the leading live and live-online salvage auto auction company, today announced the expansion of facilities in six states across the U.S. The more than 50 acres of additional land are located in strategic markets where customer demand is rapidly increasing and projected to continue.
“We partner very closely with our customers, and our proactive expansion strategy ensures we are continuously anticipating and addressing their inventory needs,” said John Kett, CEO and president of IAA. “The combination of our broad physical presence and integrated technology solutions also helps us serve and expand our buyer-base and provide them with greater choice and convenience.”
The six facilities expanded include: IAA Indianapolis (Ind.); IAA Kansas City (Kan.); IAA Salt Lake City (Utah); IAA Minneapolis/St. Paul (Minn.); IAA Fredericksburg-South (Va.); and IAA Dothan (Ala.). Together, these facilities now cover more than 200 acres of land, an increase of over 30 percent from previous acreage.
The expansions also provide additional space for potential weather events and create supplemental storage to meet the anticipated needs of the company’s seller customers. The projects were completed in accordance with IAA’s environmental philosophy, with several facilities utilizing reclaimed asphalt in the development of the branch enhancements.
The locations and hours of the expanded facilities are as follows:
IAA Indianapolis is located at 3302 S. Harding Street Indianapolis, Ind.; auctions held every Wednesday at 9:30 A.M. The enlarged facility is one of IAA’s two locations in Indiana, including IAA South Bend.
IAA Kansas City is located at 2663 S. 88th Street Kansas City, Kan.; auctions held every Wednesday at 9:00 A.M. The expanded facility is one of two IAA locations in Kansas, including IAA Wichita.
IAA Salt Lake City is located at 1800 South 1100 West Ogden, Utah; auctions held every Thursday at 9:00 A.M.
IAA Minneapolis/St. Paul (Minn.) is located at 29531 Highway 61 Boulevard Red Wing, Minn.; auctions held every Wednesday at 9:00 A.M.
IAA Fredericksburg-South is located at 99 Industrial Drive Fredericksburg, Va.; auctions held every Monday following the IAA Northern Virginia sale. The extended facility is one of seven IAA locations in Virginia, including those in Culpeper, Fredericksburg, Pulaski, Richmond, Suffolk, and Tidewater.
IAA Dothan is located at 15994 U.S. Highway 431 N Headland, Ala.; auctions held biweekly on Tuesday at 9:00 A.M. The expanded facility is one of three IAA locations in Alabama, including IAA Birmingham and IAA Huntsville.
For more information on listings for branch dates and times, please visit www.iaai.com/locations
SVP, Global Marketing and Communications
About IAA, Inc.
IAA, Inc. (NYSE: IAA) is a leading global digital marketplace connecting vehicle buyers and sellers. Leveraging leading-edge technology and focusing on innovation, IAA’s unique multi-channel platform processes approximately 2.5 million total-loss, damaged and low-value vehicles annually. Headquartered near Chicago in Westchester, Illinois, IAA has nearly 4,000 talented employees and more than 200 facilities throughout the U.S., Canada and the United Kingdom. IAA serves a rapidly growing global buyer base – located throughout over 135 countries – and a full spectrum of sellers, including insurers, dealerships, fleet lease and rental car companies, and charitable organizations. Buyers have access to innovative vehicle merchandising, efficient evaluation services and digital bidding tools, enhancing the overall purchasing experience. IAA offers sellers a comprehensive suite of services aimed at maximizing vehicle value, reducing administrative costs, shortening selling cycle time and delivering the highest economic returns.
Certain statements contained in this release include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, statements made that are not historical facts may be forward-looking statements and can be identified by words such as “should,” “may,” “will,” “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” and similar expressions. In this release, such forward-looking statements include statements regarding the expected timing and associated benefits of CSAToday, and the related services, products and platforms discussed in this release. Such statements are based on management’s current expectations, are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from the results projected, expressed or implied by these forward-looking statements. These risks and uncertainties include: uncertainties regarding the impact of the COVID-19 outbreak, and measures to prevent its spread, on our business and the economy generally; the loss of one or more significant suppliers or a reduction in significant volume from such suppliers; our ability to meet or exceed customers’ demand and expectations; significant current competition and the introduction of new competitors or other disruptive entrants in our industry; the risk that our facilities lack the capacity to accept additional vehicles and our ability to obtain land or renew/enter into new leases at commercially reasonable rates; our ability to effectively maintain or update information and technology systems; our ability to implement and maintain measures to protect against cyberattacks and comply with applicable privacy and data security requirements; our ability to successfully implement our business strategies or realize expected cost savings and revenue enhancements, including from our margin expansion program; business development activities, including acquisitions and integration of acquired businesses; our expansion into markets outside the U.S. and the operational, competitive and regulatory risks facing our non-U.S. based operations; our reliance on subhaulers and trucking fleet operations; changes in used-vehicle prices and the volume of damaged and total loss vehicles we purchase; economic conditions, including fuel prices, commodity prices, foreign exchange rates and interest rate fluctuations; trends in new- and used-vehicle sales and incentives; and other risks and uncertainties identified in our filings with the Securities and Exchange Commission (the “SEC”), including under "Risk Factors" in our Form 10-K for the year ended December 29, 2019 filed with the SEC on March 18, 2020. Additional information regarding risks and uncertainties will also be contained in subsequent annual and quarterly reports we file with the SEC. The forward-looking statements included in this release are made as of the date hereof, and we undertake no obligation to publicly update or revise any forward-looking statement to reflect new information or events, except as required by law.
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