WESTCHESTER, Ill. - (Business Wire) Insurance Auto Auctions, Inc. the leading North American salvage auto auction company today announced the successful second and final integration phase of the remaining five Verastar locations including three in the Atlanta market as well as Savannah and Tifton, Georgia. All eleven integrated locations are now functioning under IAA
’s operating model and proprietary technology structure ensuring a consistent level of service delivery. The company acquired all eleven Verastar locations in February of this year and completed the first phase of branch integrations in July including Bowling Green and Paducah, Kentucky; Chattanooga, Knoxville and Nashville, Tennessee; and Asheville, North Carolina.
IAA buyers will have access to over 35 additional auctions each month through the industry’s best performing auction model, IAA’s hybrid design, which combines live and internet based auctions. By completing the Verastar integration, IAA now stands as the single leading salvage auto auction company in the Southeast with the most locations.
“Completing the integration of the Verastar locations is a significant step for IAA,” stated Tom O’Brien, CEO. “It represents not only our aggressive, continued growth as the leading North American salvage auto auction provider, but our exclusive focus on this industry and its valued participants, both providers and buyers.”
ABOUT INSURANCE AUTO AUCTIONS
Insurance Auto Auctions, Inc. is leading the salvage auto auction industry in North America by providing the largest facility footprint, strongest buyer base and highest selling returns. IAA’s exclusive focus on the salvage auto auction industry and 149 corporate owned facilities across the United States and Canada provides suppliers and buyers with the best solution to process and acquire total-loss, recovered-theft, fleet lease and rental vehicles. The company’s hybrid auction model, including live, internet and proxy bidding, united with their mature buyer base and diverse inventory produce record setting returns. With over 25 years in the industry, IAA holds the most comprehensive warehouse of salvage auction data. For more information regarding IAA, please visit our website at www.iaai.com.
Insurance Auto Auctions, Inc.
John Kett
Chief Financial Officer
708-492-7304
www.iaai.com
