IAA, a global digital marketplace connecting vehicle buyers and sellers, completed the acquisition of SYNETIQ, an integrated salvage and vehicle recycling company, for £225m ($310m). "We are very excited about the acquisition of SYNETIQ. This transaction significantly expands our business in the United Kingdom from both a scale and portfolio perspective, supporting the overall IAA growth strategy. SYNETIQ’s management team and employees have done a tremendous job of using innovation to maximize value for their customers. We also know that reusable parts are increasingly of interest to UK insurers as they look to satisfy customer needs and meet their environmental goals. SYNETIQ’s focus and expertise in this area is a true differentiator that is consistent with our focus on sustainability in the UK market and beyond. We look forward to welcoming the SYNETIQ team to IAA," John Kett, IAA CEO and President.