Auto Reseller Purchased: Privately held Orange County...
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Auto Reseller Purchased: Privately held Orange County Salvage Sales Inc. has been acquired by Insurance Auto Auctions Inc. of North Hollywood for $12.5 million cash.
Both companies specialize in reselling to auto dealers and salvage yards vehicles that insurance companies acquire when they pay claims on wrecked or stolen trucks and cars.
Orange County Salvage has 25 employees at facilities in Anaheim and Fontana. A spokesman for Insurance Auto Auctions said the purchase will not affect the Anaheim company’s management or employees.
Insurance Auto operates sealed-bid auctions of damaged and recovered autos in California, Arizona, Oregon, Nevada and Hawaii.
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