IAA Extends North American Presence with Strategic Branch Expansions
Published March 8, 2017 - Written by IAA, Inc.
WESTCHESTER, Ill. – March 8, 2017 – Insurance Auto Auctions, Inc. (IAA), today announced the strategic expansion of auction locations in Arkansas, Idaho, Indiana, Louisiana, Maine, Pennsylvania and Oregon. IAA facilities now occupy 173 locations in the U.S. and Canada. IAA is a business unit of KAR Auction Services (NYSE: KAR) that provides a global marketplace for vehicle liquidation, logistics, title processing, and inventory sourcing channels for damaged and lower value vehicle consignors.
“Our increased land capacity enables us to proactively meet the growing inventory needs of our vehicle sellers,” said John Kett, CEO and president of IAA. “We continuously evaluate opportunities in strategic locations and add resources and capacity where our customers need it most. We’re proud of our diverse and expanding presence, and we look forward to serving our customers in these important and active markets.”
This continued growth in key locations demonstrates IAA’s commitment to providing additional acreage for day-to-day seller storage and maintaining reserve storage for acute inventory increases due to natural disasters and/or catastrophic events. These expanded locations also allow the company to offer a wider selection of vehicles to physical and online buyers. Registered buyers can preview vehicles live at the individual auction locations or online via IAA’s newly redesigned vehicle details page that loads 60-percent faster and requires 50-percent less network data.
The IAA expansions announced today include: IAA-Fayetteville, Ark.; IAA-Boise, Idaho; IAA-South Bend, In.; IAA-Shreveport, La.; IAA-Gorham, Maine; IAA-Bridgeport, Pa.; and IAA Portland West, Ore. Additional strategic auction expansions or new locations scheduled for 2017 include: Fredericksburg, Va.; Kansas City, Kan.; Flint, Mich.; Ogden, Utah; and Spokane, Wash.
IAA Branch details for live and live-online auctions include:
IAA-Boise is located at 3707 East Linden Street, Boise, Idaho; auctions held biweekly on Fridays at 9:30 A.M.
IAA-Bridgeport is located at 396 E Schuylkill River Rd., Bridgeport, Pa.; auctions held every Thursday at 9:00 A.M.
IAA-Fayetteville is located at 2801 E. Pridemore Dr, Lincoln, Ark.; auctions held biweekly on Thursdays at 9:00 A.M.
IAA-Gorham is located at 9 Moody Drive, Gorham, Maine; auctions held every Monday at 10:30 A.M.
IAA-Portland West is located at 10498 Vancouver Way, Portland, Ore.; auctions held every Tuesday at 9:00 A.M.
IAA-South Bend is located at 25631 SR2, South Bend, Ind.; auctions held every Tuesday at 10:00 A.M.
IAA-Shreveport is located at 4836 McGee Rd., Greenwood, La.; auctions held every Monday at 9:00 A.M.
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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