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Announced

Completed

Ritchie Bros completed the acquisition of IAA for $7.3bn.

Synopsis

Ritchie Bros, a global asset management and disposition company, completed the acquisition of IAA, a global digital marketplace connecting vehicle buyers and sellers, for $7.3bn. "The closing of the IAA acquisition represents the beginning of an exciting new chapter for Ritchie Bros. as we expect the combination of our businesses to drive long-term, profitable growth and significant, sustainable shareholder value creation. With IAA, we will accelerate our transformation into a premier digital marketplace and expand into an attractive, adjacent vertical, broadening our global footprint. Our combined yard footprint, marketplace infrastructure and comprehensive suite of innovative solutions will allow us to serve customers more effectively and efficiently than ever before," Ann Fandozzi, Ritchie Bros CEO. On March 14, 2023, Ritchie Bros's shareholders vote to approve IAA acquisition.

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