Press Release
IAA Makes Strategic Investments in Expansions at Key Locations
Published April 3, 2019 - Written by IAA, Inc
WESTCHESTER, Ill. – April 3, 2019 – Insurance Auto Auctions, Inc. (IAA), a business unit of global vehicle remarketing and technology solutions provider, KAR Auction Services (NYSE: KAR), announces expansions at branches in five states — further investing in its future growth. The expansions have added more than 110 acres to IAA’s footprint in Alabama, Arkansas, Minnesota, New York, and Texas to address sellers’ logistical needs and provide increased inventory options for buyers.
“By anticipating our current and new clients’ growing volume across the country, we continue to make strategic investments to meet their future needs and most importantly further enhance their auction experience,” said John Kett, CEO and president of IAA. “These expansions will allow us to marshal and store more inventory for our sellers and offer an expanded vehicle selection to our buyers – a win-win for all our customers.”
IAA has made land investments in the following locations: IAA Huntsville (AL), IAA Little Rock (AR), IAA Minneapolis/St. Paul (MN), IAA Long Island (NY), and IAA Houston North (TX).
Please check IAAI.com for hours of operation at each of our expanded locations.
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.
