Insurance Auto Auctions Acquires Mountain States Salvage Pool

April 30, 2003

Insurance Auto Auctions, Inc., a provider of automotive salvage and claims processing services, acquired Mountain States Salvage Pool of Ogden, Utah.

Situated just north of Salt Lake City, the 22-acre facility represents the company’s first location in the state of Utah. The acquisition also signals IAA’s cost effective entry into a new market, as no other company branches currently exist within a 300-mile radius of the new facility.

“The acquisition of Mountain States Salvage Pool offers us a unique opportunity to expand in an area in which we have not had a presence historically,” said Tom O’Brien, CEO of IAA. “We believe the acquisition was a cost effective way to enter this new market, as their current relationships give us a strong foundation upon which we can build. We look forward to expanding our presence in the area in the quarters ahead.”