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 […]
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 […]
KAR Auction Services Partners with Jefferson Awards Foundation
KAR Auction Services (NYSE: KAR) announced its partnership with the Jefferson Awards Foundation. The Jefferson Awards Foundation (JAF) is dedicated to celebrating and inspiring public service. As a Champion partner, KAR will support and promote the Jefferson Awards’ mission by recognizing employees for volunteer work in their communities. “Giving back to the community is one […]
Insurance Auto Auctions Expands Three Branches in Texas
Insurance Auto Auctions, Inc. (IAA), a business unit of KAR Auction Services (KAR), and the leading live and live-online salvage auto auction company, announced the expansion and improvement of three locations in Texas – Corpus Christi, Houston, and McAllen facilities. Through strategic, ongoing growth, the expansions of facilities serve to both promote IAA’s continued dedication […]
Insurance Auto Auctions Increases Presence In Virginia
Insurance Auto Auctions, Inc. (IAA), a business unit of KAR Auction Services (NYSE:KAR), announced the recent expansion of its branch in Culpeper, Va. The facility, located at located at 15201 Review Road, now encompasses 10 additional acres of usable property, presenting IAA with increased capacity to enhance operational capabilities. One of six locations in Virginia, […]
KAR Auction Services Reports 18% Revenue Increase in First Quarter
KAR Auction Services, Inc. (NYSE:KAR), reported its first quarter financial results for the period ended March 31, 2016. For the first quarter of 2016, the company reported revenue of $745.0 million as compared with revenue of $632.4 million for the first quarter of 2015, an increase of 18 percent. Net income for the first quarter […]
KAR Closes Brasher’s Auto Auctions Acquisition
KAR Auction Services, Inc. (NYSE: KAR) announced Friday that its subsidiary, ADESA, Inc., has successfully completed the acquisition of eight auctions owned by the Brasher family and includes its floorplan financing business. The eight locations will be renamed: ADESA Salt Lake, ADESA Brasher’s (Sacramento), ADESA Portland, ADESA Boise, ADESA San Jose, ADESA Northwest (Eugene), ADESA […]
Insurance Auto Auctions Opens New Location in Kentucky
Insurance Auto Auctions, Inc. (IAA), a business unit of KAR Auction Services (NYSE: KAR), held a grand opening February 22 at its newest location, the IAA Louisville North branch in Eminence, Ky. “The IAA Louisville North facility will expand the company’s presence in the area by providing buyers and sellers with greater convenience and access […]
KAR Acquires Eight Brasher’s Auto Auctions, Announces Earnings
KAR Auction Services, Inc. (NYSE: KAR) announced that its subsidiary, ADESA, Inc., has signed a definitive agreement to acquire eight auctions owned by the Brasher family. Brasher’s eight locations are: Brasher’s Salt Lake, Brasher’s Sacramento, Brasher’s Portland, Brasher’s Boise, Brasher’s San Jose, Brasher’s Northwest, Brasher’s Reno and Brasher’s Fresno. Brasher’s key corporate and local auction […]