IAA is a leading global marketplace to buy and sell total loss, damaged and low-value vehicles. Supported by industry-leading technology and innovation, IAA’s solutions focus on maximizing the value of vehicles sold through its multi-channel auction model and shortening the selling cycle overall. Key investment highlights include:

  • Solid organic and inorganic growth opportunities
    • Aligned with largest, fastest-growing insurance companies and focused on penetrating regional and local carriers
    • Smart, cost-effective expansion or entry into new markets through strategic acquisitions
  • Attractive profitability and margin profile
    • IAA derives substantial operating leverage from its low-capital-intensive model
    • Strong margins with expansion potential through greater scale, operating efficiencies
  • Strong cash flow generator
    • Consistent history of generating strong cash flow as a result of attractive gross margins, low capex requirements and the ability to leverage corporate infrastructure across multiple locations
    • Adjusted EBITDA increased 16% to $388 million in fiscal 2018
  • Significant barriers to entry
    • Strong foundation built over 35 years in the business are prohibitive to new market entrants
      • Broad industry footprint provides extensive customer reach and vehicle management resources
        • Currently operates 179 sites across the US and Canada, and 14 sites in the United Kingdom
      • Longstanding, diverse and fully integrated relationships with national insurers, dealerships, rental car companies, fleet lease companies and charitable organizations
      • Large, diverse and global buyer base
  • Flexible and efficient operating model
    • Low maintenance capital expenditures and working capital requirements provide high levels of strategic and financial flexibility
    • Recent spinoff from KAR Auction Services provides enhanced decision-making ability and flexibility to quickly capitalize on potential opportunities
  • Technology and innovation focus creates clear competitive advantages
    • Unique multi-channel model combines physical and online marketplaces, allowing customers to purchase vehicles when, where and how they want
    • Transformational innovation process creates superior buying experience
    • IAA places significant focus on leveraging cutting-edge technology
  • Experienced managed team with successful track record
    • Executive leadership has 200+ combined years of expertise in insurance and remarketing industry
    • CEO John Kett has served in various executive roles at IAA for 17 years