KAR Auction Services Announces Expansion into United Kingdom
Published June 16, 2015 - Written by KAR Auction Services
CARMEL, Ind. — KAR Auction Services (NYSE: KAR), a provider of end-to-end vehicle remarketing services, announced today that its subsidiary ADESA (UK) Limited has acquired HBC Vehicle Services. Headquartered in Canvey Island, England, HBC specializes in salvage vehicle auctions and related services.
“This acquisition is the start of our expansion into new global markets, and we look forward to bringing our remarketing capabilities to the United Kingdom and beyond,” said Jim Hallett, KAR CEO and chairman. “KAR is unique in that we are able to offer our customers an unmatched range of automotive remarketing services: from online and physical whole car and salvage auctions to floorplan financing and a wide range of used vehicle technology solutions such as Autoniq, TradeRev and DataScan.
HBC Vehicle Services provides efficient salvage collection and disposal services for the UK’s top insurance, fleet and accident management companies. A leader in salvage auction technology, the company conducts business using a multitude of sales channels, including on-line auctions, and operates from 10 UK locations. With more than 50 years of experience, HBC Vehicle Services has a significant buying audience throughout Europe.
“We are and will remain dedicated to our customers,” said Steve Hankins, managing director of HBC Vehicle Services. “With KAR’s expertise and support, we are excited to accelerate our growth plans and continue to deliver competitive services to the salvage auction industry across the United Kingdom. We look forward to finding new ways to deliver the best products and services to all of our customers.”
“We welcome the entire HBC team,” said Hallett. “HBC’s reputation for exceptional service makes them a natural fit with our organization, and we are very pleased to have them join the KAR group of companies.”
ADESA (UK) Limited is a wholly owned subsidiary of KAR Auction Services and is focused on bringing new products and services to the UK automotive marketplace with special emphasis on upstream remarketing services that emphasize efficiency and technology to support franchise and independent retailers.
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.
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