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Thursday July 18

Insurance Auto Auctions Announces Strategic Acquisition in Springfield, Missouri

Insurance Auto Auctions, Inc., a leading provider of automotive salvage and claims processing services in the United States, has announced the acquisition of Southern Missouri Insurance Pool, Inc., a 27-acre operation located in Springfield, Missouri. Strategically located in the southern part of the state, this well-established site will enable IAA to expand its reach throughout the state of Missouri by leveraging existing operations in St. Louis and Kansas City.

Tom O'Brien, President and CEO of IAA, said, "The location of the Springfield facility allows us to complete our coverage in the state of Missouri as well as expand our reach in Northeast Oklahoma and Northwest Arkansas. In addition to its strategic location, the Southern Missouri Insurance Pool comes to us with a sound reputation in the area, providing us with strong local management and market relationships, and a solid foundation upon which to grow our business. Going forward, we will continue to seek strategic expansion opportunities that cost-effectively leverage our existing operations."

Insurance Auto Auctions currently has 65 sites across the United States.

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