Press Release
IAA Opens Third Branch in Houston Metro Area
Published June 13, 2019 - Written by IAA, Inc
WESTCHESTER, Ill. – June 13, 2019 – Insurance Auto Auctions Inc. (IAA), a business unit of global vehicle remarketing and technology solutions provider KAR Auction Services Inc. (NYSE: KAR), announces the opening of its third location in the Houston metro area and the 17th branch in the state to accommodate increased customer needs. The new location, IAA Houston South, is approximately 35 miles from Houston and will strategically enhance IAA’s ability to serve the growing metropolitan area as well as the hurricane-prone coastal Texas areas.
“We continue to make strategic investments to meet our customers’ needs by creating a better marketplace to connect sellers and buyers,” said John Kett, CEO and president of IAA. “Texas is one of our largest markets. This new branch offers more than 125 acres of capacity and will help us serve the growing volume from our customers, as well as provide support for potential catastrophic weather events.”
IAA Houston South will offer the latest in vehicle auction technology, including a vehicle check- in area designed for IAA 360 ViewTM imaging and IAA Inspection ServicesTM. The branch will also include a vehicle inspection center (VIC) space for insurance clients. The new lobby and conference rooms provide customers and employees with ample meeting and training space.
So far this year, in addition to this new Houston South branch, IAA has made significant land investments across the country, with over 11 facility expansions totaling approximately 300 acres, and opened a new facility in Lexington, South Carolina.
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.
