IAA Extends North American Presence with Strategic Branch Expansions
Published March 8, 2017 - Written by IAA, Inc.
WESTCHESTER, Ill. – March 8, 2017 – Insurance Auto Auctions, Inc. (IAA), today announced the strategic expansion of auction locations in Arkansas, Idaho, Indiana, Louisiana, Maine, Pennsylvania and Oregon. IAA facilities now occupy 173 locations in the U.S. and Canada. IAA is a business unit of KAR Auction Services (NYSE: KAR) that provides a global marketplace for vehicle liquidation, logistics, title processing, and inventory sourcing channels for damaged and lower value vehicle consignors.
“Our increased land capacity enables us to proactively meet the growing inventory needs of our vehicle sellers,” said John Kett, CEO and president of IAA. “We continuously evaluate opportunities in strategic locations and add resources and capacity where our customers need it most. We’re proud of our diverse and expanding presence, and we look forward to serving our customers in these important and active markets.”
This continued growth in key locations demonstrates IAA’s commitment to providing additional acreage for day-to-day seller storage and maintaining reserve storage for acute inventory increases due to natural disasters and/or catastrophic events. These expanded locations also allow the company to offer a wider selection of vehicles to physical and online buyers. Registered buyers can preview vehicles live at the individual auction locations or online via IAA’s newly redesigned vehicle details page that loads 60-percent faster and requires 50-percent less network data.
The IAA expansions announced today include: IAA-Fayetteville, Ark.; IAA-Boise, Idaho; IAA-South Bend, In.; IAA-Shreveport, La.; IAA-Gorham, Maine; IAA-Bridgeport, Pa.; and IAA Portland West, Ore. Additional strategic auction expansions or new locations scheduled for 2017 include: Fredericksburg, Va.; Kansas City, Kan.; Flint, Mich.; Ogden, Utah; and Spokane, Wash.
IAA Branch details for live and live-online auctions include:
IAA-Boise is located at 3707 East Linden Street, Boise, Idaho; auctions held biweekly on Fridays at 9:30 A.M.
IAA-Bridgeport is located at 396 E Schuylkill River Rd., Bridgeport, Pa.; auctions held every Thursday at 9:00 A.M.
IAA-Fayetteville is located at 2801 E. Pridemore Dr, Lincoln, Ark.; auctions held biweekly on Thursdays at 9:00 A.M.
IAA-Gorham is located at 9 Moody Drive, Gorham, Maine; auctions held every Monday at 10:30 A.M.
IAA-Portland West is located at 10498 Vancouver Way, Portland, Ore.; auctions held every Tuesday at 9:00 A.M.
IAA-South Bend is located at 25631 SR2, South Bend, Ind.; auctions held every Tuesday at 10:00 A.M.
IAA-Shreveport is located at 4836 McGee Rd., Greenwood, La.; auctions held every Monday at 9:00 A.M.
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 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 while also delivering industry-leading economic returns. Buyers have access to the industry’s most-innovative vehicle evaluation and bidding tools, enhancing the overall purchasing experience.
Certain statements contained in this release include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, statements made that are not historical facts may be forward-looking statements and can be identified by words such as “should,” “may,” “will,” “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” and similar expressions. In this release, such forward-looking statements include statements regarding our expectations as an independent company and our ability to enhance our competitive position and drive long-term value for shareholders. Such statements are based on management’s current expectations, 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. These risks and uncertainties include: fluctuations in consumer demand for and in the supply of damaged and total loss vehicles and the resulting impact on auction sales volumes; our ability to meet or exceed customers’ expectations, as well as develop and implement information systems responsive to customer needs; significant current competition and the introduction of new competitors; competitive pricing pressures; the ability of consumers to lease or finance the purchase of new and/or used vehicles; our ability to obtain land or renew/enter into new leases at commercially reasonable rates; our ability to effectively maintain or update information and technology systems and to implement and maintain measures to protect against cyberattacks; our ability to successfully implement our business strategies or realize expected cost savings and revenue enhancements; business development activities, including acquisitions and integration of acquired businesses; trends in the vehicle remarketing industry; changes in the volume of vehicle production, including capacity reductions at the major original equipment manufacturers; changes in the market value of vehicles auctioned, including changes in the actual cash value of damaged and total loss vehicles; economic conditions, including fuel prices, commodity prices, foreign exchange rates and interest rate fluctuations; trends in new- and used-vehicle sales and incentives; general economic conditions; and other risks and uncertainties identified in our filings with the Securities and Exchange Commission (the “SEC”), including under "Risk Factors" in our information statement filed as Exhibit 99.1 to our Registration Statement on Form 10 filed with the SEC on June 13, 2019. Additional information regarding risks and uncertainties will also be contained in subsequent quarterly and annual reports we file with the SEC. The forward-looking statements included in this release are made as of the date hereof, and we undertake no obligation to publicly update or revise any forward looking statement to reflect new information or events, except as required by law.
Related Press Release
Press ReleaseDDI Technology Expands into Massachusetts
November 15, 2022
Press ReleaseRitchie Bros. to Acquire IAA and Create a Leading Global Marketplace for Commercial Assets and Vehicles
November 7, 2022
Press ReleaseIAA Breaks Ground on New Branch in Northern California
October 27, 2022