Insurance Auto Auctions Buys Company in Atlanta

Insurance Auto Auctions Inc., a North Hollywood company that sells salvaged vehicles for automobile insurance companies, said it has acquired an Atlanta-based company that performs the same service.

The acquired company, East Atlanta Group Inc., sells about 5,000 vehicles per year throughout Georgia, Insurance Auto Auctions said. Terms of the purchase were not disclosed. Both companies serve automobile insurance companies by selling badly damaged or recovered stolen vehicles--so-called “total loss” vehicles.

Insurance Auto Auctions also said the Hertz Corp. car rental company has signed an agreement naming Insurance Auto Auctions the preferred provider of automotive salvage services for Hertz nationwide.