DALLAS -

After expanding in the U.S. at the close of its most recent quarter, Copart announced another acquisition on Tuesday, this time broadening its European footprint.

Copart acquired Autoresiduos S.L., located in Cordoba, Spain. The company is a salvage valuation and marketing platform primarily serving the insurance markets in Spain. The company highlighted the Autoresiduos platform brings together buyers and sellers of salvage vehicles.

Chief executive officer Jay Adair explained the valuation of salvage vehicles by Autoresiduos helps determine the ultimate amount of the claim payment to policyholders and is an integral part of the claim settlement process in Spain.

The Copart boss went on to say that he and his team look forward to developing and enhancing the Autoresiduos platform and providing enhanced values for vehicle sellers, many of whom are already Copart customers elsewhere in the world.

“This is another exciting step in the growth of Copart,” Adair said. “Autoresiduos is a great business and market leader in Spain. We believe that there are significant opportunities to enhance the service provided to Spanish insurers and increase the value Autoresiduos provides for them. We look forward to the future with Autoresiduos.”

Adair also mentioned Autoresiduos will become part of Copart‘s European operations, which is headquartered in the United Kingdom.

This development comes on the heels of Copart announcing the acquisition of Quad City Salvage Auction. Auto Remarketing’s report of that transaction as well as the company’s third-quarter performance can be viewed here.

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