Car breaker and auction firm Synetiq has been sold a U.S-based online car re-marketer in a deal valued at £225m.

BMW being prepared for auction at Synetiq, Doncaster

Insurance Automotive Auctions (IAA) is to pay £186m at the close of the deal and the balance after the Competition and Markets Authority have given the go-ahead.


Synetiq was formed in 2019 following the merger of four regional car breakers and auctioneers. In the months since it has expanded by acquiring other similar businesses and has substantially modernised systems and processes to improve efficiency and lead time.


Stretch Range Rover is a gate guardian

An interview with CEO Tom Rumboll about the future of vehicle dismantling in the UK is the subject of the cover feature in the current issue of CAT magazine.

IAA has an existing presence in the UK with 14 physical auction sites. Essex-based HBC Vehicle services was acquired in June 2019 and rebranded under the IAA global style a year later.

John Kett, Chief Executive Officer and President of IAA, said, “This transaction significantly expands our business in the United Kingdom from both a scale and portfolio perspective, supporting the overall IAA growth strategy”.

Don’t miss CAT Magazine. Subscribe here




Published by Greg Whitaker

Editor of CAT Magazine and an experienced motoring journalist @GregWhitaker5

Movers & Shakers: New appointment at MAHA UK

All the latest changes from across the sector, including new roles, promotions, and retirements

Read More

Autotech Group announces a host of leadership changes

Moves come as company transitions into a new phase under the leadership of CEO Simon King

Read More

Aftermarket firms that’ve failed to pay living wage named

One MOT centre owned employees more than £15,000; businesses were publicly named and shamed by the government

Read More

ELTA to stock Lucas bulbs at all Halfords stores

Pivotal factor of the deal saw all plastic packaging from Lucas and Halfords bulbs range removed

Read More

New grey area puts anyone who modifies a car at risk of prosecution

A workshop was recently found guilty of carrying out alterations to a car to make its exhaust louder

Read More

Go to comments

Your email address will not be published. Required fields are marked *