Press Release
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.
Media Inquiries:
Jeanene O’Brien SVP, Global Marketing and Communications
(708) 492-7328
Analyst Inquiries:
Caitlin Churchill
ICR
(203) 682-8200
About IAA, Inc.
IAA, Inc. (NYSE: IAA) is a leading global marketplace connecting vehicle buyers and sellers. Leveraging leading-edge technology and focusing on innovation, IAA’s unique multi-channel platform processes more than 2.5 million vehicles annually. Headquartered near Chicago, IL, IAA has over 3,600 talented employees and over 190 facilities throughout the US, Canada and the United Kingdom. IAA provides a broad range of services to insurers, fleet and rental companies, rebuilders, charity organizations and financing companies that dramatically reduce the cycle time of selling a vehicle with a focus on delivering the highest economic returns. Buyers have access to the industry’s most-innovative vehicle evaluation and digital bidding tools, enhancing the overall purchasing experience.
Uncertainties Affecting Forward-Looking Statements
Certain statements contained in this release include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and which are subject to certain risks, trends and uncertainties. In particular, statements made that are not historical facts may be forward-looking statements. Words such as “should,” “may,” “will,” “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” and similar expressions identify forward-looking statements. Such statements 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. Such forward-looking statements include the statements regarding IAA’s future financial and operating performance, benefits and synergies of the separation, strategic and competitive advantages, future opportunities and any other statements regarding events or developments that IAA believes or anticipates will or may occur in the future. We disclaim any obligation or undertaking to update any forward-looking statements. For further discussion of such risks and uncertainties, see “Information Statement Summary,” “Risk Factors” and “Cautionary Statement Concerning Forward-Looking Statements” in the information statement filed as an exhibit to IAA’s Registration Statement on Form 10, as amended.
