Westchester, Ill.-based Insurance Auto Auctions, Inc., has acquired Auto Disposal Systems Inc, or ADS, one of the largest independent salvage pool companies in the United States. The deal includes seven locations in Ashland, Ky., Buckhannon, W.VA, and in Cincinnati, Cleveland, Columbus, Dayton and Lima, Ohio. The acquisition was funded through the amendment and expansion of the company’s credit facility.
“The acquisition of ADS enables IAA to fill an important geographic corridor between existing locations in the Midwest and facilities in the East,” said Tom O’Brien, CEO of IAA. “Entering three new states with this single, significant expansion to our national presence is a further indication of our commitment to providing customers with comprehensive national service coverage.”
“We are excited about the opportunities made possible by merging our company with IAA,” said Tom Hausfeld of ADS. “We view this as an important step in taking our organization to the next level and Insurance Auto Auctions was the most ideal solution for us.”
Brad Hausfeld of ADS commented, “IAA is a well managed and respected company and a good fit for our organization as we transition from a regional enterprise to an important part of a much larger, national operation.”
Since January of 2006, IAA has acquired 10 facilities in markets across the United States.
Source: Insurance Auto Auctions
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