0000943663-05-000182.txt : 20120626 0000943663-05-000182.hdr.sgml : 20120626 20050315082510 ACCESSION NUMBER: 0000943663-05-000182 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20050315 DATE AS OF CHANGE: 20050315 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: INSURANCE AUTO AUCTIONS, INC CENTRAL INDEX KEY: 0000880026 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-MOTOR VEHICLES & MOTOR VEHICLE PARTS & SUPPLIES [5010] IRS NUMBER: 953790111 STATE OF INCORPORATION: IL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-42080 FILM NUMBER: 05680062 BUSINESS ADDRESS: STREET 1: TWO WESTBROOK CORPORATE CENTER STREET 2: SUITE 500 CITY: WESTCHESTER STATE: IL ZIP: 60154 BUSINESS PHONE: 708-492-7000 MAIL ADDRESS: STREET 1: TWO WESTBROOK CORPORATE CENTER STREET 2: SUITE 500 CITY: WESTCHESTER STATE: IL ZIP: 60154 FORMER COMPANY: FORMER CONFORMED NAME: INSURANCE AUTO AUCTIONS INC /CA DATE OF NAME CHANGE: 19930328 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: VA PARTNERS LLC CENTRAL INDEX KEY: 0001129787 IRS NUMBER: 943364923 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 435 PACIFIC AVENUE STREET 2: FOURTH FLOOR CITY: SAN FRANCISCO STATE: CA ZIP: 94133 BUSINESS PHONE: 4153623700 MAIL ADDRESS: STREET 1: 435 PACIFIC AVENUE STREET 2: FOURTH FLOOR CITY: SAN FRANCISCO STATE: CA ZIP: 94133 SC 13D/A 1 valueact_13d.htm

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 Washington, D.C.  20549

SCHEDULE 13D

Under the Securities and Exchange Act of 1934
(Amendment No. 5)*

INSURANCE AUTO AUCTIONS, INC.
(Name of Issuer)

COMMON STOCK, PAR VALUE $0.001 PER SHARE
 (Title of Class of Securities)

457875102
 (CUSIP Number)

George F. Hamel, Jr.
ValueAct Capital
435 Pacific Avenue, Fourth Floor
San Francisco, CA  94133  USA
(415) 362-3700
 (Name, address and telephone number of Person Authorized to Receive Notices and Communications)

Copy to:
Christopher G. Karras, Esq.
Dechert LLP
4000 Bell Atlantic Tower
1717 Arch Street
Philadelphia, PA 19103-2793
(215) 994-4000

March 15, 2005
 (Date of Event which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box  o

Note:  Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 240.13d-7 for other parties to whom copies are to be sent.

*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

This information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).


CUSIP NO. 457875102

Page 2 of 16 Pages

SCHEDULE 13D

1)

Name of Reporting Persons

 

ValueAct Capital Partners, L.P.

 

 

 

 

 

 

I.R.S. Identification
Nos. of Above Person (entities only)

 

 

 

 

 

 

 

 

2)

Check the Appropriate Box
if a Member of a Group

 

(a)
(b)

x
o

 

 

 

 

 

3)

SEC Use Only

 

 

 

 

 

 

 

 

4)

Source of Funds (See Instructions)

 

N/A

 

 

 

 

 

5)

Check if Disclosure of
Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e)

 

o

 

 

 

 

 

6)

Citizenship or Place of Organization

 

Delaware

 

 

 

 

 

Number of Shares
Beneficially Owned By Each

 

7)

Sole Voting
Power                                             0     

Reporting Person With

 

 

 

8)

Shared Voting
Power                                             1,550,310 **

 

 

 

 

9)

Sole Dispositive
Power                                             0     

 

 

 

 

10)

Shared Dispositive
Power                                             1,550,310 **

 

 

 

 

 

 

 

11)

Aggregate Amount Beneficially
Owned by Each Reporting Person

 


     1,550,310 **    

 

 

 

 

 

12)

Check Box if the Aggregate Amount
in Row (11) Excludes Certain Shares
(See Instructions)

 


o

 

 

 

 

 

13)

Percent of Class Represented
by Amount in Row (11)

 


13.1%

 

 

 

 

 

14)

Type of Reporting Person (See
Instructions)

 

PN

 

 

 

 

** See Item 5


CUSIP NO. 457875102

Page 3 of 16 Pages

SCHEDULE 13D

1)

Name of Reporting Persons

 

ValueAct Capital Partners II, L.P.

 

 

 

 

 

 

I.R.S. Identification
Nos. of Above Person (entities only)

 

 

 

 

 

 

 

 

2)

Check the Appropriate Box
if a Member of a Group

 

(a)
(b)

x
o

 

 

 

 

 

3)

SEC Use Only

 

 

 

 

 

 

 

 

4)

Source of Funds (See Instructions)

 

N/A

 

 

 

 

 

5)

Check if Disclosure of
Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e)

 

o

 

 

 

 

 

6)

Citizenship or Place of Organization

 

Delaware

 

 

 

 

 

Number of Shares
Beneficially Owned By Each

 

7)

Sole Voting
Power                                             0     

Reporting Person With

 

 

 

8)

Shared Voting
Power                                             219,692 **

 

 

 

 

9)

Sole Dispositive
Power                                             0     

 

 

 

 

10)

Shared Dispositive
Power                                             219,692 **

 

 

 

 

 

 

 

11)

Aggregate Amount Beneficially
Owned by Each Reporting Person

 


     219,692 **    

 

 

 

 

 

12)

Check Box if the Aggregate Amount
in Row (11) Excludes Certain Shares
(See Instructions)

 


o

 

 

 

 

 

13)

Percent of Class Represented
by Amount in Row (11)

 


1.9%

 

 

 

 

 

14)

Type of Reporting Person (See
Instructions)

 

PN

 

 

 

 

** See Item 5


CUSIP NO. 457875102

Page 4 of 16 Pages

SCHEDULE 13D

1)

Name of Reporting Persons

 

ValueAct Capital International, Ltd.

 

 

 

 

 

 

I.R.S. Identification
Nos. of Above Person (entities only)

 

 

 

 

 

 

 

 

2)

Check the Appropriate Box
if a Member of a Group

 

(a)
(b)

x
o

 

 

 

 

 

3)

SEC Use Only

 

 

 

 

 

 

 

 

4)

Source of Funds (See Instructions)

 

N/A

 

 

 

 

 

5)

Check if Disclosure of
Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e)

 

o

 

 

 

 

 

6)

Citizenship or Place of Organization

 

British Virgin Islands

 

 

 

 

 

Number of Shares
Beneficially Owned By Each

 

7)

Sole Voting
Power                                             0     

Reporting Person With

 

 

 

8)

Shared Voting
Power                                             0 **

 

 

 

 

9)

Sole Dispositive
Power                                             0     

 

 

 

 

10)

Shared Dispositive
Power                                             0 **

 

 

 

 

 

 

 

11)

Aggregate Amount Beneficially
Owned by Each Reporting Person

 


     0 **    

 

 

 

 

 

12)

Check Box if the Aggregate Amount
in Row (11) Excludes Certain Shares
(See Instructions)

 


o

 

 

 

 

 

13)

Percent of Class Represented
by Amount in Row (11)

 


0%

 

 

 

 

 

14)

Type of Reporting Person (See
Instructions)

 

PN

 

 

 

 

** See Item 5


CUSIP NO. 457875102

Page 5 of 16 Pages

SCHEDULE 13D

1)

Name of Reporting Persons

 

ValueAct Capital Master Fund, L.P.

 

 

 

 

 

 

I.R.S. Identification
Nos. of Above Person (entities only)

 

 

 

 

 

 

 

 

2)

Check the Appropriate Box
if a Member of a Group

 

(a)
(b)

x
o

 

 

 

 

 

3)

SEC Use Only

 

 

 

 

 

 

 

 

4)

Source of Funds (See Instructions)

 

N/A

 

 

 

 

 

5)

Check if Disclosure of
Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e)

 

o

 

 

 

 

 

6)

Citizenship or Place of Organization

 

British Virgin Islands

 

 

 

 

 

Number of Shares
Beneficially Owned By Each

 

7)

Sole Voting
Power                                             0     

Reporting Person With

 

 

 

8)

Shared Voting
Power                                             3,427,261 **

 

 

 

 

9)

Sole Dispositive
Power                                             0     

 

 

 

 

10)

Shared Dispositive
Power                                             3,427,261 **

 

 

 

 

 

 

 

11)

Aggregate Amount Beneficially
Owned by Each Reporting Person

 


     3,427,261 **    

 

 

 

 

 

12)

Check Box if the Aggregate Amount
in Row (11) Excludes Certain Shares
(See Instructions)

 


o

 

 

 

 

 

13)

Percent of Class Represented
by Amount in Row (11)

 


28.9%

 

 

 

 

 

14)

Type of Reporting Person (See
Instructions)

 

PN

 

 

 

 

** See Item 5


CUSIP NO. 457875102

Page 6 of 16 Pages

SCHEDULE 13D

1)

Name of Reporting Persons

 

ValueAct Capital Partners Co-Investors, L.P.

 

 

 

 

 

 

I.R.S. Identification
Nos. of Above Person (entities only)

 

 

 

 

 

 

 

 

2)

Check the Appropriate Box
if a Member of a Group

 

(a)
(b)

x
o

 

 

 

 

 

3)

SEC Use Only

 

 

 

 

 

 

 

 

4)

Source of Funds (See Instructions)

 

N/A

 

 

 

 

 

5)

Check if Disclosure of
Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e)

 

o

 

 

 

 

 

6)

Citizenship or Place of Organization

 

Delaware

 

 

 

 

 

Number of Shares
Beneficially Owned By Each

 

7)

Sole Voting
Power                                             0     

Reporting Person With

 

 

 

8)

Shared Voting
Power                                             43,139 **

 

 

 

 

9)

Sole Dispositive
Power                                             0     

 

 

 

 

10)

Shared Dispositive
Power                                             43,139 **

 

 

 

 

 

 

 

11)

Aggregate Amount Beneficially
Owned by Each Reporting Person

 


     43,139 **    

 

 

 

 

 

12)

Check Box if the Aggregate Amount
in Row (11) Excludes Certain Shares
(See Instructions)

 


o

 

 

 

 

 

13)

Percent of Class Represented
by Amount in Row (11)

 


0.4%

 

 

 

 

 

14)

Type of Reporting Person (See
Instructions)

 

PN

 

 

 

 

** See Item 5


CUSIP NO. 457875102

Page 7 of 16 Pages

SCHEDULE 13D

1)

Name of Reporting Persons

 

VA Partners, L.L.C.

 

 

 

 

 

 

I.R.S. Identification
Nos. of Above Person (entities only)

 

 

 

 

 

 

 

 

2)

Check the Appropriate Box
if a Member of a Group

 

(a)
(b)

x
o

 

 

 

 

 

3)

SEC Use Only

 

 

 

 

 

 

 

 

4)

Source of Funds (See Instructions)

 

N/A

 

 

 

 

 

5)

Check if Disclosure of
Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e)

 

o

 

 

 

 

 

6)

Citizenship or Place of Organization

 

Delaware

 

 

 

 

 

Number of Shares
Beneficially Owned By Each

 

7)

Sole Voting
Power                                             0     

Reporting Person With

 

 

 

8)

Shared Voting
Power                                             3,470,400 **

 

 

 

 

9)

Sole Dispositive
Power                                             0     

 

 

 

 

10)

Shared Dispositive
Power                                             3,470,400 **

 

 

 

 

 

 

 

11)

Aggregate Amount Beneficially
Owned by Each Reporting Person

 


     3,470,400 **    

 

 

 

 

 

12)

Check Box if the Aggregate Amount
in Row (11) Excludes Certain Shares
(See Instructions)

 


o

 

 

 

 

 

13)

Percent of Class Represented
by Amount in Row (11)

 


29.3%

 

 

 

 

 

14)

Type of Reporting Person (See
Instructions)

 

00 (LLC)

 

 

 

 

** See Item 5


CUSIP NO. 457875102

Page 8 of 16 Pages

SCHEDULE 13D

1)

Name of Reporting Persons

 

Jeffrey W. Ubben

 

 

 

 

 

 

I.R.S. Identification
Nos. of Above Person (entities only)

 

 

 

 

 

 

 

 

2)

Check the Appropriate Box
if a Member of a Group

 

(a)
(b)

x
o

 

 

 

 

 

3)

SEC Use Only

 

 

 

 

 

 

 

 

4)

Source of Funds (See Instructions)

 

N/A

 

 

 

 

 

5)

Check if Disclosure of
Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e)

 

o

 

 

 

 

 

6)

Citizenship or Place of Organization

 

United States

 

 

 

 

 

Number of Shares
Beneficially Owned By Each

 

7)

Sole Voting
Power                                             0     

Reporting Person With

 

 

 

8)

Shared Voting
Power                                             3,470,400 **

 

 

 

 

9)

Sole Dispositive
Power                                             0     

 

 

 

 

10)

Shared Dispositive
Power                                             3,470,400 **

 

 

 

 

 

 

 

11)

Aggregate Amount Beneficially
Owned by Each Reporting Person

 


     3,470,400 **    

 

 

 

 

 

12)

Check Box if the Aggregate Amount
in Row (11) Excludes Certain Shares
(See Instructions)

 


o

 

 

 

 

 

13)

Percent of Class Represented
by Amount in Row (11)

 


29.3%

 

 

 

 

 

14)

Type of Reporting Person (See
Instructions)

 

IN

 

 

 

 

** See Item 5


CUSIP NO. 457875102

Page 9 of 16 Pages

SCHEDULE 13D

1)

Name of Reporting Persons

 

George F. Hamel, Jr.

 

 

 

 

 

 

I.R.S. Identification
Nos. of Above Person (entities only)

 

 

 

 

 

 

 

 

2)

Check the Appropriate Box
if a Member of a Group

 

(a)
(b)

x
o

 

 

 

 

 

3)

SEC Use Only

 

 

 

 

 

 

 

 

4)

Source of Funds (See Instructions)

 

N/A

 

 

 

 

 

5)

Check if Disclosure of
Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e)

 

o

 

 

 

 

 

6)

Citizenship or Place of Organization

 

United States

 

 

 

 

 

Number of Shares
Beneficially Owned By Each

 

7)

Sole Voting
Power                                             0     

Reporting Person With

 

 

 

8)

Shared Voting
Power                                             3,470,400 **

 

 

 

 

9)

Sole Dispositive
Power                                             0     

 

 

 

 

10)

Shared Dispositive
Power                                             3,470,400 **

 

 

 

 

 

 

 

11)

Aggregate Amount Beneficially
Owned by Each Reporting Person

 


     3,470,400 **    

 

 

 

 

 

12)

Check Box if the Aggregate Amount
in Row (11) Excludes Certain Shares
(See Instructions)

 


o

 

 

 

 

 

13)

Percent of Class Represented
by Amount in Row (11)

 


29.3%

 

 

 

 

 

14)

Type of Reporting Person (See
Instructions)

 

IN

 

 

 

 

** See Item 5


CUSIP NO. 457875102

Page 10 of 16 Pages

SCHEDULE 13D

1)

Name of Reporting Persons

 

Peter H. Kamin

 

 

 

 

 

 

I.R.S. Identification
Nos. of Above Person (entities only)

 

 

 

 

 

 

 

 

2)

Check the Appropriate Box
if a Member of a Group

 

(a)
(b)

x
o

 

 

 

 

 

3)

SEC Use Only

 

 

 

 

 

 

 

 

4)

Source of Funds (See Instructions)

 

N/A

 

 

 

 

 

5)

Check if Disclosure of
Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e)

 

o

 

 

 

 

 

6)

Citizenship or Place of Organization

 

United States

 

 

 

 

 

Number of Shares
Beneficially Owned By Each

 

7)

Sole Voting
Power                                             58,457     

Reporting Person With

 

 

 

8)

Shared Voting
Power                                             3,470,400 **

 

 

 

 

9)

Sole Dispositive
Power                                             58,457     

 

 

 

 

10)

Shared Dispositive
Power                                             3,470,400 **

 

 

 

 

 

 

 

11)

Aggregate Amount Beneficially
Owned by Each Reporting Person

 


     3,528,857 **    

 

 

 

 

 

12)

Check Box if the Aggregate Amount
in Row (11) Excludes Certain Shares
(See Instructions)

 


o

 

 

 

 

 

13)

Percent of Class Represented
by Amount in Row (11)

 


29.8%

 

 

 

 

 

14)

Type of Reporting Person (See
Instructions)

 

IN

 

 

 

 

** See Item 5


CUSIP NO. 457875102

Page 11 of 16 Pages

THE PURPOSE OF THIS AMENDMENT NO. 5 TO SCHEDULE 13D IS TO AMEND ITEM 5 OF REPORTS FILED BY THE REPORTING PERSONS.  THE INFORMATION BELOW SUPPLEMENTS THE INFORMATION PREVIOUSLY PROVIDED.

ITEM 5.          INTEREST IN SECURITIES OF THE ISSUER

Item 5 is hereby amended and restated in its entirety to read as follows:

(a), (b). Set forth below is the beneficial ownership of shares of Common Stock of the Issuer for each of (a) ValueAct Capital Partners, L.P. (“ValueAct Partners”), (b) ValueAct Capital Partners II, L.P. (“ValueAct Partners II”), (c) ValueAct Capital International, Ltd. (“ValueAct International”) (d) ValueAct Capital Master Fund, L.P. (“ValueAct Master Fund”), (e) ValueAct Capital Partners Co-Investors, L.P. (“ValueAct Co-Investors”), (f) VA Partners, L.L.C. (“VA Partners”), (g) Jeffrey W. Ubben, (h) George F. Hamel, Jr. and (i) Peter H. Kamin (collectively, the “Reporting Persons”).  At the date of this filing, ValueAct Partners, ValueAct Partners II and ValueAct International have contributed assets (including the beneficial ownership of shares of Common Stock of the Issuer) to ValueAct Master Fund in exchange for proportional limited partnership interests in ValueAct Master Fund. Shares reported as beneficially owned by each of ValueAct Partners, ValueAct Partners II, ValueAct Master Fund and ValueAct Co-Investors are also reported as beneficially owned by VA Partners, as investment manager or General Partner of each of such investment partnerships, and by the Managing Members as controlling persons of the General Partner. VA Partners and the Managing Members also, directly or indirectly, may own interests in one or both of such partnerships from time to time. Unless otherwise indicated below, by reason of such relationships each of the partnerships is reported as having shared power to vote or to direct the vote, and shared power to dispose or direct the disposition of, such shares of Common Stock with VA Partners and the Managing Members.

The Issuer has granted (a) 49,000 options to Mr. Kamin, (b) 19,000 options to Mr. Ubben, and (c) 15,000 options granted to Mr. Todd Bourell.  Under an agreement with ValueAct Master Fund, Mr. Kamin, Mr. Ubben and Mr. Bourell are deemed to hold the options for the benefit of ValueAct Partners, ValueAct Partners II, ValueAct Master Fund and ValueAct Co-Investors and indirectly for VA Partners as general partner of ValueAct Partners, ValueAct Partners II, ValueAct Master Fund and ValueAct Co-Investors.

ValueAct Partners is the beneficial owner of 1,550,310 shares of Common Stock, representing approximately 13.1% of the Issuer’s outstanding Common Stock. ValueAct Partners II is the beneficial owner of 219,692 shares of Common Stock, representing 1.9% of the Issuer’s outstanding Common Stock. ValueAct International is the beneficial owner of 0 shares of Common Stock. ValueAct Master Fund is the beneficial owner of 3,427,261 shares of Common Stock, which includes the right to acquire 82,000 shares of Common Stock upon the exercise of outstanding options, representing 28.9% of the Issuer’s outstanding Common Stock. ValueAct Co-Investors is the beneficial owner of 43,139 shares of Common Stock, which includes the right to acquire 1,000 shares of Common Stock upon the exercise of outstanding options, representing 0.4% of the Issuer’s outstanding Common Stock. VA Partners and each of the Managing Members may be deemed the beneficial owner of an aggregate of 3,470,400 shares of Issuer Common Stock, which includes the right to acquire 83,000 shares of Common Stock upon the exercise of outstanding options, representing approximately 29.3% of the Issuer’s outstanding Common Stock. In addition to the 3,470,400 shares of Issuer Common Stock which Mr. Kamin may be deemed to beneficially own by reason of his being a Managing Member, Mr. Kamin also personally owns 58,457 shares of Common Stock (or, when combined with the 3,470,400 shares of Common Stock he may be deemed to beneficially own by reason of his being a Managing Member, 29.8% of the Issuer’s Common Stock). All percentages set forth in this Schedule 13D are based upon the Issuer’s reported 11,853,123 outstanding shares of Common Stock as reported in the Issuer’s Form 10-K for the fiscal year ended December 26, 2004.

(c), (d) and (e) Not applicable.


CUSIP NO. 457875102

Page 12 of 16 Pages

ITEM 7.          MATERIAL TO BE FILED AS EXHIBITS

          (1)          Joint Filing Agreement.


CUSIP NO. 457875102

Page 13 of 16 Pages

SIGNATURE

          After reasonable inquiry and to the best of his knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

POWER OF ATTORNEY

KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below on this Schedule 13D hereby constitutes and appoints Jeffrey W. Ubben, George F. Hamel, Jr. and Peter H. Kamin, and each of them, with full power to act without the other, his or its true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for him or it and in his or its name, place and stead, in any and all capacities (until revoked in writing) to sign any and all amendments to this Schedule 13D, and to file the same, with all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary fully to all intents and purposes as he or it might or could do in person, thereby ratifying and confirming all that said attorneys-in-fact and agents or any of them, or their or his substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

Dated:     March 15, 2005

VALUEACT CAPITAL MASTER FUND, L.P.

 

 

 

By:

VA PARTNERS, L.L.C., its General Partner

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

By:

/s/ GEORGE F. HAMEL, JR.

 

 

 

 

 

 

 

 

 

 

George F. Hamel, Jr.
Managing Member

 

 

 

 

 

 

 

 

Dated:     March 15, 2005

VALUEACT CAPITAL PARTNERS, L.P.

 

 

 

 

By:

VA PARTNERS, L.L.C., its General Partner

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

By:

/s/ GEORGE F. HAMEL, JR.

 

 

 

 

 

 

 

 

 

 

George F. Hamel, Jr.
Managing Member

 

 

 

 

 

 

 

 

Dated:     March 15, 2005

VALUEACT CAPITAL PARTNERS II, L.P. 

 

 

 

By:

VA PARTNERS, L.L.C., its General Partner

 

 

 

 

 

 

 

 

 

 

 

 

 

By:

/s/ GEORGE F. HAMEL, JR.

 

 

 

 

 

 

 

 

 

 

George F. Hamel, Jr.
Managing Member

 

 

 

 

 

 

 

 

Dated:     March 15, 2005

VALUEACT CAPITAL PARTNERS CO-INVESTORS, L.P.

 

 

By:

VA PARTNERS, L.L.C., its General Partner

 

 

 

 

 

 

 

 

 

 

 

 

 

By:

/s/ GEORGE F. HAMEL, JR.

 

 

 

 

 

 

 

 

 

 

George F. Hamel, Jr.
Managing Member

 

 


CUSIP NO. 457875102

Page 14 of 16 Pages

Dated:     March 15, 2005

VALUEACT CAPITAL INTERNATIONAL, LTD.

 

 

 

By:

VA PARTNERS, L.L.C., its Investment Manager

 

 

 

 

 

 

 

 

 

 

 

 

 

 

By:

/s/ GEORGE F. HAMEL, JR.

 

 

 

 

 

 

 

 

 

 

George F. Hamel, Jr.
Managing Member

 

 

 

 

 

 

 

 

Dated:     March 15, 2005

VA PARTNERS, L.L.C.

 

 

 

 

 

 

 

 

 

 

By:

/s/ GEORGE F. HAMEL, JR.

 

 

 

 

 

 

 

 

 

 

George F. Hamel, Jr.
Managing Member

 

 

 

 

 

 

 

 

 

 

 

 

Dated:     March 15, 2005

/s/ JEFFREY W. UBBEN

 

 

 

 

 

 

 

 

Jeffrey W. Ubben

 

 

 

 

 

 

 

 

 

 

Dated:     March 15, 2005

/s/ GEORGE F. HAMEL, JR.

 

 

 

 

 

 

 

 

George F. Hamel, Jr.

 

 

 

 

 

 

 

 

Dated:     March 15, 2005

/s/ PETER H. KAMIN

 

 

 

 

 

 

 

 

Peter H. Kamin

 

 

 


CUSIP NO. 457875102

Page 15 of 16 Pages

EXHIBIT INDEX

No.

 

Description

 

(1)

 

Joint Filing Agreement


CUSIP NO. 457875102

Page 16 of 16 Pages

EXHIBIT 1

JOINT FILING UNDERTAKING

The undersigned parties hereby agree that the Schedule 13D filed herewith (and any amendments thereto) relating to the Common Stock of Insurance Auto Auctions, Inc. is being filed jointly on behalf of each of them with the Securities and Exchange Commission pursuant to Section 13(d) of the Securities Exchange Act of 1934, as amended.

Dated:     March 15, 2005

VALUEACT CAPITAL MASTER FUND, L.P.

 

 

 

By:

VA PARTNERS, L.L.C., its General Partner

 

 

 

 

 

 

 

 

 

 

 

 

 

 

By:

/s/ GEORGE F. HAMEL, JR.

 

 

 

 

 

 

 

 

 

 

George F. Hamel, Jr.
Managing Member

 

 

 

 

 

 

 

 

Dated:     March 15, 2005

VALUEACT CAPITAL PARTNERS, L.P.

 

 

 

 

By:

VA PARTNERS, L.L.C., its General Partner

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

By:

/s/ GEORGE F. HAMEL, JR.

 

 

 

 

 

 

 

 

 

 

George F. Hamel, Jr.
Managing Member

 

 

 

 

 

 

 

 

Dated:     March 15, 2005

VALUEACT CAPITAL PARTNERS II, L.P. 

 

 

 

By:

VA PARTNERS, L.L.C., its General Partner

 

 

 

 

 

 

 

 

 

 

 

 

 

By:

/s/ GEORGE F. HAMEL, JR.

 

 

 

 

 

 

 

 

 

 

George F. Hamel, Jr.
Managing Member

 

 

 

 

 

 

 

 

Dated:     March 15, 2005

VALUEACT CAPITAL PARTNERS CO-INVESTORS, L.P.

 

 

By:

VA PARTNERS, L.L.C., its General Partner

 

 

 

 

 

 

 

 

 

 

 

 

 

By:

/s/ GEORGE F. HAMEL, JR.

 

 

 

 

 

 

 

 

 

 

George F. Hamel, Jr.
Managing Member

 

 

 

 

 

 

 

 

Dated:     March 15, 2005

VALUEACT CAPITAL INTERNATIONAL, LTD.

 

 

 

By:

VA PARTNERS, L.L.C., its Investment Manager

 

 

 

 

 

 

 

 

 

 

 

 

 

 

By:

/s/ GEORGE F. HAMEL, JR.

 

 

 

 

 

 

 

 

 

 

George F. Hamel, Jr.
Managing Member

 

 

 

 

 

 

 

 

 

Dated:     March 15, 2005

VA PARTNERS, L.L.C.

 

 

 

 

 

 

 

 

 

 

By:

/s/ GEORGE F. HAMEL, JR.

 

 

 

 

 

 

 

 

 

 

George F. Hamel, Jr.
Managing Member

 

 

 

 

 

 

 

 

 

 

 

 

Dated:     March 15, 2005

/s/ JEFFREY W. UBBEN

 

 

 

 

 

 

 

 

Jeffrey W. Ubben

 

 

 

 

 

 

 

 

 

 

Dated:     March 15, 2005

/s/ GEORGE F. HAMEL, JR.

 

 

 

 

 

 

 

 

George F. Hamel, Jr.

 

 

 

 

 

 

 

 

Dated:     March 15, 2005

/s/ PETER H. KAMIN

 

 

 

 

 

 

 

 

Peter H. Kamin