April 18, 2014 2:25 AM ET

Commercial Services and Supplies

Company Overview of Insurance Auto Auctions, Inc.

Company Overview

Insurance Auto Auctions, Inc. operates as a live and live-online salvage auto auction company in North America. The company specializes in facilitating the sale of total loss vehicles. It remarkets lightly damaged, high mileage vehicles for dealers, fleet lease companies, rental companies, and financial institutions. The company also provides services for selling agriculture equipment, construction equipment, emergency equipment, forestry equipment, fleet trucks, heavy trucks and trailers, material handling equipment, marine vehicles, and RVs. In addition, it offers services for the promotion and sale of motorsports vehicles, including motorcycles, ATVs, jet-skis, snowmobiles, and RVs; and s...

Two Westbrook Corporate Center

Suite 500

Westchester, IL 60154

United States

Founded in 1982

1,161 Employees

Phone:

708-492-7000

Fax:

708-492-7078

Key Executives for Insurance Auto Auctions, Inc.

Chief Executive Officer
Age: 59
President and Chief Financial Officer
Age: 49
Chief Operating Officer and Senior Vice President
Age: 56
Chairman
Age: 53
Director
Age: 60
Compensation as of Fiscal Year 2013.

Insurance Auto Auctions, Inc. Key Developments

Insurance Auto Auctions, Inc. Announces Opening of New Branch in Shreveport, LA ; Announces Relocation of Fargo, ND Branch to Brand New Facility

Insurance Auto Auctions, Inc. (IAA) announced the opening of a new branch in Shreveport, LA and the relocation of its Fargo, ND branch to a brand new facility. IAA's new live and live-online auction facility in Shreveport is located at 4836 McGee Road in nearby Greenwood, LA. The size of the facility is 24 acres with additional expansion possibilities. The 9,800 square foot fully-functioning facility, which opened in December, gives IAA the additional capacity necessary to expand its footprint in the Northwest corner of Louisiana, which has experienced significant growth. In addition, IAA used 100% recycled products in the construction of the facility, including recycled content for the base material and recycled asphalt for the surface of the facility. The 7,500 square foot, 20 acre Fargo facility is located at 4401 37th St. N in Fargo, ND. This facility more than doubles IAA's capacity from its previous site shared with sister company, ADESA to allow for continued growth in the market. The new facility was constructed using recycled asphalt millings for the surfacing and features an indoor vehicle inspection area which maintains IAA's ability to provide excellent service to customers in seasonal weather.

Insurance Auto Auctions, Inc. Announces Executive Changes

KAR Auction Services, Inc. announced that Tom O'Brien, chief executive officer of Insurance Auto Auctions, Inc. (IAA) and a director of KAR's board, will step down as CEO of IAA effective April 30, 2014. O'Brien will remain a member of the company's board of directors until the company's next annual meeting of stockholders to be held in June 2014, at which time he will retire from the board. John Kett, currently president and chief financial officer of IAA, will assume the role of chief executive officer and president on May 1, 2014. Kett joined IAA in 2001 as senior vice president of planning and business development, becoming chief financial officer in 2007 and assuming the role of president in 2011. Prior to joining IAA, Kett served in a variety of senior financial and operational roles for Central Steel and Wire Co., Safelite Glass Corporation (formerly Vistar, Inc.), Newark Electronics and Deloitte LLP.

Insurance Auto Auctions, Inc. Expands Footprint in Arkansas and Alaska

Insurance Auto Auctions, Inc. announced the opening of a new facility in Fayetteville, AR and the relocation of its Anchorage, AK site to a larger facility in the region. These actions significantly increase the company's capacity and further demonstrate the company's strategic vision of an expansive footprint of more than 160 locations throughout North America.

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