Press Release
IAA Launches Ignite Auction Channel Brand with Grand Opening of its New Location in Portage Wisconsin
Published January 24, 2018 - Written by IAA, Inc
WESTCHESTER, Ill. – January 25, 2018 – Insurance Auto Auctions, Inc. (IAA), a business unit of global vehicle remarketing and technology solutions provider KAR Auction Services (NYSE: KAR), launches its newest auction channel offering a more targeted buying and selling platform. Sellers who want a full-service auction company partner can now target non-insurance, clear title, Run & Drive® vehicle segment buyers through IAA Ignite. Ignite allows sellers to consign vehicles utilizing IAA’s suite of auction channels – IAA Live and OnlineTM, IAA Timed Auctions and IAA Buy NowTM – all in one location.
“We wanted to create an efficient marketplace for independent dealers and rebuilders with access to the clear title, run and drive, higher mileage segment of inventory they desire,” said John Kett, CEO and president of IAA. “By leveraging our multi-channel auction model, we can match the right buyer to the right seller. Our new location in Portage, Wisconsin will serve as the launching point for the IAA Ignite brand.”
The new IAA Ignite Auction in Portage, previously ADESA Wisconsin, celebrates its grand opening January 25, 2018 and will operate largely like an IAA Auction except for the specific inventory it will offer.
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.
