Insurance Auto Auctions Acquires Virginia Firm

Insurance Auto Auctions Inc., a North Hollywood-based company that sells salvaged vehicles for car insurance companies, said it has acquired Sadisco Richmond Inc., a Virginia-based company in the same business.

Sadisco is a privately held company, and terms of the deal were not disclosed.

Insurance Auto Auctions generally sells parts from vehicles that have been recovered after being reported stolen, or are damaged beyond repair. The company’s primary customers are auto insurance firms that have already paid policyholders for the replacement of the vehicles.