IAA, Inc. (NYSE:IAA) today completed its separation from KAR Auction Services, Inc. (NYSE:KAR). IAA’s common stock will begin trading today on the New York Stock Exchange under the symbol IAA. “We are excited for IAA to enter the public markets as a strong, independent company. As a standalone publicly traded company, IAA will continue to […]
IAA Opens Third Branch in Houston Metro Area
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 […]
KAR Board of Directors Approves Insurance Auto Auctions Spin-Off
KAR Auction Services Inc. (NYSE: KAR) announced today that its board of directors formally approved the separation of its salvage auction business from KAR through a distribution of all of the outstanding shares of common stock of its wholly-owned subsidiary, IAA Spinco Inc. that will be renamed IAA, Inc., to KAR stockholders on a pro […]
KAR Auction Services Reports First Quarter Revenue Up 10%
CEO says firm advancing proposed spin-off of Insurance Auto Auctions. KAR Auction Services, Inc. (NYSE: KAR) reported its first quarter revenue of $1.0468 billion as compared with revenue of $950.5 million for the first quarter of 2018, an increase of 10 percent. Net income for the first quarter of 2019, ended March 31, decreased 14 […]
Vance Johnston Named Chief Financial Officer at Insurance Auto Auctions
Insurance Auto Auctions, Inc. (IAA), a business unit of KAR Auction Services (NYSE:KAR), announced the appointment of Vance Johnston as chief financial officer. Johnston will report to John Kett, chief executive officer and president. “We are excited to welcome Vance to the IAA team,” said John Kett, CEO and president of IAA. “Vance’s successful track […]
IAA Opens Fourth Location in South Carolina
Insurance Auto Auctions, Inc. (IAA), a business unit of KAR Auction Services, Inc. (NYSE:KAR), announced the opening of its fourth location in South Carolina. The new location, IAA Lexington, augments the company’s footprint in South Carolina by 35 acres. “We remain diligent and consistent in making strategic investments to meet our customers’ needs and most […]
IAA Announces Branch Expansions in Five States
Insurance Auto Auctions, Inc. (IAA), a business unit of KAR Auction Services (NYSE:KAR), announced expansions at branches in five states. The expansions have added more than 110 acres to IAA’s footprint in Alabama, Arkansas, Minnesota, New York, and Texas to address sellers’ logistical needs and provide increased inventory options for buyers. “By anticipating our current […]
Insurance Auto Auctions Invests in Innovation Hub
Insurance Auto Auctions, Inc. (IAA), a business unit of KAR Auction Services (NYSE:KAR), announced its investment in an innovation hub at 1871, the largest technology incubator in North America, located in Chicago’s Merchandise Mart. IAA Engine House will serve as an ideation and development center where employees can collaborate with educators, investors, mentors, technologists, buyers […]
IAA Announces Open New Location in Flint, Michigan
Insurance Auto Auctions, Inc. (IAA), a business unit of KAR Auction Services (NYSE:KAR), announced the opening of its new facility in Flint, Mich. The new branch is IAA’s third location serving the northern Midwest market of Michigan. The site boasts a new state-of-the-art facility and its 18 acres allow for future expansion. “The new facility […]
IAA Expands Towing App Launch to Accelerate Catastrophe Response in the Carolinas and Virginia
Insurance Auto Auctions, Inc. (IAA), a business unit of KAR Auction Services, Inc. (NYSE:KAR), announced the expanded launch of its IAA Tow App that uses data analytics and the latest mobile technology to streamline the dispatch and towing cycle of salvage vehicles. During natural disaster and catastrophic events, IAA recovers flood-damaged and total-loss vehicles on […]