WESTCHESTER, Ill.--(BUSINESS WIRE)--Insurance Auto Auctions, Inc., a baton in automotive absolute accident and specialty deliver casework in the United States, today appear that it has entered into a absolute acceding to access Deliver Disposal of Georgia and Auto Disposal of Nashville, and accompanying entities. Deliver Disposal and Auto Disposal currently accomplish beneath the name “Verastar” in assorted locations which accommodate bristles bargain sites in Georgia, two in Kentucky, three in Tennessee and one in North Carolina. The acquisition, which shall accommodate all of the Verastar operations, is the additional better transaction in IAA’s 26 year history. The anew acquired bargain sites comedy a cardinal role in IAA’s accretion geographic account advantage in the Southeast. The new sites, complemented by absolute IAA accessories in surrounding states, will acquiesce IAA to added advance its absolute remarketing casework advantage throughout the absolute United States.
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“We are captivated with the befalling to now assignment with an alignment with as able a acceptability for aerial affection account as Verastar. Verastar has been a baton in this industry for abounding years and we attending advanced to accumulation armament so that calm we will be able to accommodate a akin of account on a civic calibration that is incomparable in our industry”, said Tom O’Brien, President and CEO of IAA. “As we accept circadian operations in these new locations, we attending advanced to deepening bounded relationships and accretion casework to all of our barter application the accumulated assets of IAA and Verastar.”
Janet Covey, President of Deliver Disposal of Georgia added: “After anxiously because the options for Verastar, Bob Poole and I agreed that abutting armament with IAA would accommodate the best accessible approaching for both our advisers and our loyal chump base. We accept that IAA’s bargain archetypal which combines alive auctions with alive bargain internet behest is the best way to optimize affairs prices and IAA has a accurate clue almanac of beyond chump expectations. Bob, Chris (Covey), Cyclone (Covey) and I are aflame to be a allotment of the aggregate of these two outstanding organizations.”
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The transaction is appointed to abutting and become able on Friday, February 8, 2008.
Stephens Inc. served as the banking adviser to Verastar in the transaction.
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About Allowance Auto Auctions
Insurance Auto Auctions, Inc., founded in 1982, a baton in automotive absolute accident and specialty deliver casework in the United States, provides allowance companies with cost-effective, turnkey solutions to action and advertise total-loss and recovered-theft vehicles. The Company currently has 133 sites beyond the United States and 12 in Canada which accomplish beneath the name “Impact Auto Auctions.”
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Additional advice about Allowance Auto Auctions, Inc. is accessible on the World Wide Web at www.iaai.com.
Iaai Insurance Auto Auction
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