IAA ANNOUNCES ACQUISITION OF SYNETIQ
22/10/2021
IAA, Inc. (NYSE: IAA), a leading global digital marketplace connecting vehicle buyers and sellers, announced it has signed an agreement to acquire the stock of SYNETIQ Ltd. (“SYNETIQ”), a leading integrated salvage and vehicle dismantling company in the United Kingdom, for £225 million. IAA, Inc. will acquire the stock of SYNETIQ through its indirect wholly owned subsidiary IAA International Holdings Limited. Founded in 2019 from the merger of four entities, SYNETIQ provides salvage auction services for insurance companies, accident management companies, and other public and private sellers. In addition, the company is a leading seller of reusable parts that are dismantled from salvage vehicles and reissued into the automotive supply chain. SYNETIQ has 14 locations and approximately 500 employees throughout the United Kingdom. The business has capabilities covering the entire salvage....
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