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November 30, 2015 3:02 AM ET

Commercial Services and Supplies

Company Overview of Insurance Auto Auctions, Inc.

Company Overview

Insurance Auto Auctions, Inc. provides live and live-online auto auction services in North America and internationally. The company engages in facilitating the sale of total loss vehicles; and remarketing lightly damaged, high mileage vehicles for dealers, fleet lease companies, rental companies, and financial institutions. It 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; services for non-profit organizations to process and sell donated vehicles as a source of funding; and resources for charity vehicle donation programs. ...

Two Westbrook Corporate Center

Suite 500

Westchester, IL 60154

United States

Founded in 1982

1,161 Employees





Key Executives for Insurance Auto Auctions, Inc.

Chief Executive Officer and President
Age: 51
Senior Vice President of Finance
Chief Operating Officer and Senior Vice President
Age: 58
Chairman, Member of Compensation Committee, Chairman of KAR AUCTION SERVICES INC, Chairman of KAR Holdings Inc and Chief Executive Officer of KAR Holdings Inc
Age: 55
Director, Member of Compensation Committee, Chief Executive Officer of ADESA Auctions, Chief Executive Officer of KAR AUCTION SERVICES INC and President of ADESA Auctions
Age: 62
Compensation as of Fiscal Year 2015.

Insurance Auto Auctions, Inc. Key Developments

Insurance Auto Auctions, Inc. Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015

Insurance Auto Auctions, Inc. announced unaudited earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, the company reported net income of $29.6 million compared to $22.3 million a year ago. EBITDA was $80.2 million compared to $68.3 million a year ago. Adjusted EBITDA was $85.9 million compared to $73.9 million a year ago. Operating profit was $41.6 million compared to $39.5 million a year ago. For the nine months, the company reported net income of $84.1 million compared to $50.3 million a year ago. EBITDA was $234.3 million compared to $149.8 million a year ago. Adjusted EBITDA was $216.1 million compared to $148.5 million a year ago. Operating profit was $140.5 million compared to $125.8 million a year ago.

Insurance Auto Auctions, Inc. Appoints Tim O'Day as Senior Vice President of Finance

Insurance Auto Auctions, Inc. announced that Tim O'Day will join the company as Senior Vice President of Finance reporting to John Kett, Chief Executive Officer and President. With almost thirty years of experience in finance, operations, and general management, O'Day has a combination of big company, start up and high growth business experience. Most recently O'Day worked for nine years as COO and then CFO for MedSpeed. Mr. O'Day will be based at the company's headquarters in Westchester, Illinois.

Insurance Auto Auctions, Inc. Announces Expansion of its Austin Branch

Insurance Auto Auctions, Inc. announced the recent expansion of its Austin branch. The facility, now comprising 57 acres, offers IAA buyers and sellers an improved auction experience. IAA relocated its Austin branch in July 2012 to the current location, which initially spanned 37 acres and featured two covered run-and-drive lanes and 250 feet of covered motorcycle and high-value vehicle storage area. The recent expansion of 20 acres, completed this month, gives IAA more versatility in providing quality service and increased production to a higher volume of customers. As part of IAA's continued commitment to its environmental philosophy, the Austin site expansion incorporates enhanced sustainability features, including water reclamation technology for irrigation, recycled concrete and reclaimed asphalt.

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