Local Auto Salvager Buys Midwest Firm

Insurance Auto Auctions Inc., a North Hollywood salvager of damaged cars, said that it has acquired Midwest Auto Pool Corp., a privately held salvage pool based in Granite City, Ill., that serves the St. Louis, Mo., area.

The company declined to give the terms of the agreement. Midwest Auto Pool Corp. processes about 10,000 cars per year. Insurance Auto Auctions processes about 300,000.

The acquisition represents the company’s first foray into the Missouri market. Insurance Auto Auctions buys wrecked cars from insurance companies and salvages them or disposes of them at 36 sites around the country.