Copart Aquires Salvage Parent, Inc.

DALLAS--(BUSINESS WIRE)-- Copart, Inc. (NAS: CPRT) today announced that it has acquired Salvage Parent, Inc., which conducts business primarily as Quad City Salvage Auction and CrashedToys. Combined, these businesses operate at thirty-nine locations in 14 states.

Quad City Salvage Auction operates 23 facilities in 10 states, primarily in the north-central and northeast US, and stores, processes and auctions predominantly salvaged cars on behalf of the insurance industry. CrashedToys operates 10 facilities in 6 states, primarily in the north-central US, and stores, processes and auctions salvaged motorcycles, boats, jet skis and other power sport crafts.

"Quad City and CrashedToys have become major contributors in the salvage, specialty, and charity auction industries," said Copart's Chief Executive Officer Jay Adair. "We are extremely happy that they are now part of the Copart family. We intend to provide the resources needed to continue the improvement of their products and services and we are excited to have their management team on board."

"We are very excited about teaming up with Copart," said QCSA Chief Executive Officer John Lindle. "When it comes to technology innovation and their experienced management team, the decision to pick Copart was obvious."