Insurance Auto Auctions Increases Presence In Texas With Three Strategic Branch Expansions
Published July 19, 2016 - Written by IAA, Inc.
WESTCHESTER, IL, July 19, 2016 — Insurance Auto Auctions, Inc. (IAA), a business unit of KAR Auction Services (NYSE: KAR), and the leading live and live-online salvage auto auction company, today announced the expansion and improvement of three locations in Texas – Corpus Christi, Houston, and McAllen facilities. Through strategic, ongoing growth, the expansions of facilities serve to both promote IAA’s continued dedication to its customers and to add to the company’s footprint in the industry, with over 170 locations in North America.
IAA Corpus Christi underwent an expansion, and now spans a total of approximately 12 acres. Chosen for expansion based on space demands and to assist in potential future catastrophe (CAT) situations, the enhanced location was officially operational as of May 1. In line with IAA’s environmental philosophy, reclaimed asphalt was used in the development of the new acreage. IAA Houston, the company’s largest branch, recently completed a state-of-the-art building extension to accommodate an additional fourth lane for the popular live IAA Run & Drive® segment of the auction. With over 1,200 units sold per week at this location, expanding the Run & Drive capabilities and hiring another auctioneer will further accommodate the high volume in one of IAA’s largest growth markets. As of July 1, IAA McAllen also opened a new live Run & Drive lane to increase the pace of vehicle sales at the facility and increase capacity for IAA’s growing buyer base.
“Our advancements in Texas serve to successfully provide customers with the additional storage area and capabilities needed to meet demand, while also providing greater inventory of vehicles to choose from,” said John Kett, CEO and president, Insurance Auto Auctions, Inc. “These improvements illustrate our commitment to anticipating market needs and strategically expanding our locations accordingly to ultimately enhance our buyers and sellers’ auction experience.”
IAA is a proud community partner, and is grateful that each of these locations has been welcoming its increased presence in their communities. IAA strives to work with local businesses and civic organizations across the country for charitable causes, as well as overall economic growth for the region.
IAA Corpus Christi is located at 4701 Agnes St., Corpus Christi, TX 78405 with auctions every Wednesday starting at 9:00 A.M. CT.
IAA Houston is located at 2535 W. Mt. Houston Rd., Houston, TX 77375 with auctions every Wednesday starting at 9:00 A.M. CT.
IAA McAllen is located at 900 North Hutto Rd., Donna, TX 78537 with auctions every Tuesday starting at 9:00 A.M. CT.
For more information on listings for branch dates and times, please visit www.iaai.com/locations.
Jeanene O’Brien SVP, Global Marketing and Communications
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.
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