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You are here: Home / Archives for Insurance Auto Auctions

IAA Announces New Market Alliance in West Africa

April 21, 2023 By CollisionWeek Editor

IAA Holdings, LLC (IAA), a Ritchie Bros. Auctioneers Incorporated company, announced a new market alliance with Antonio, SARL in the West African country of Benin. This agreement provides authorization for auction centers operated by Antonio, SARL in the country to help local buyers search for, bid, pay, transport, ship and import vehicles from IAA auctions […]

Filed Under: News Tagged With: Africa, Agreements Signed, Antonio SARL, Benin, Insurance Auto Auctions

Shareholders Approve Ritchie Bros. Acquisition of IAA

March 15, 2023 By CollisionWeek Editor

Majority of shareholders approve of acquisition following proxy fight. Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) and IAA, Inc. (NYSE:IAA) announced that shareholders approved the previously announced amended merger agreement between the two companies. Based on the preliminary vote count provided by its proxy solicitors following the company’s Special Meeting of Shareholders held yesterday, Ritchie Bros. […]

Filed Under: News Tagged With: Acquisitions, Insurance Auto Auctions, Ritchie Bros

Ritchie Bros. Thanks Shareholders for Support of IAA Acquisition

March 6, 2023 By CollisionWeek Editor

Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE:RBA) on March 3 issued the following statement regarding the support it is receiving from many shareholders, including among the Company’s largest shareholders, as well as industry analysts on its acquisition of IAA, Inc. (NYSE:IAA): Vontobel Asset Management, which owns 2.15% of Ritchie Bros. shares, has joined many other Ritchie […]

Filed Under: News Tagged With: Acquisitions, Insurance Auto Auctions, Ritchie Bros

IAA Reports Fiscal 2022 Revenue Growth of 14.2% to $2.1 Billion

February 23, 2023 By CollisionWeek Editor

IAA, Inc. (NYSE: IAA) announced its financial results for the fourth quarter and full year fiscal 2022, which ended January 1, 2023. Consolidated revenues decreased 4.5% to $523.5 million from $548.1 million in the fourth quarter of fiscal 2021. Excluding the impact of the 53rd week from the fourth quarter of fiscal 2021, consolidated revenues […]

Filed Under: News Tagged With: Earnings, Insurance Auto Auctions

Ritchie Bros. and IAA Announce Amended Merger Agreement

January 23, 2023 By CollisionWeek Editor

Amended agreement was unanimously approved by both boards and is supported by Ancora Holdings. Starboard Value is making a $500 million strategic investment. Boyd Group’s Tim O’Day expected to be appointed to Ritchie Board of Directors upon closing of transaction. Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSX:RBA) and IAA, Inc. (NYSE: IAA) today announced that they […]

Filed Under: News Tagged With: Acquisitions, Ancora Holdings, Boyd Group, Insurance Auto Auctions, Ritchie Bros, Starboard Value

IAA Announces New Market Alliance in Qatar

January 18, 2023 By CollisionWeek Editor

IAA, Inc. (NYSE:IAA) announced a strategic market alliance with Jumla Automotive Trading in the country of Qatar. Jumla will operate an IAA Auction Center in the city of Doha, helping local buyers in the region to research, bid, buy and transport vehicles from IAA auctions. As a new alliance, Jumla will leverage IAA’s AuctionNow bidding […]

Filed Under: News Tagged With: Agreements Signed Jumla Automotive Trading, Insurance Auto Auctions, Middle East, Qatar

Ritchie Bros. and IAA Receive Regulatory Clearances for Proposed Merger

January 6, 2023 By CollisionWeek Editor

Ritchie Bros. Auctioneers Incorporated (NYSE: RBA) (TSE: RBA) and IAA, Inc. (NYSE: IAA), announced December 20 the expiration of the waiting period under the U.S. Hart-Scott-Rodino Antitrust Improvements Act of 1976 and receipt of a no-action letter from the Canadian Commissioner of Competition with respect to the pending acquisition of IAA by Ritchie Bros. The […]

Filed Under: News Tagged With: Acquisitions, Insurance Auto Auctions, Ritchie Bros

IAA Opens New Branches in Minnesota and Maryland

December 15, 2022 By CollisionWeek Editor

IAA, Inc. (NYSE:IAA) announced the opening of new branches in Minnesota and Maryland. IAA Minneapolis South (MN) is the second branch in Minnesota and provides significant inventory storage and updated facilities to serve the growing needs of the Twin Cities area. IAA Elkton (MD), the state’s fifth branch, supports growing demand in Baltimore and northern […]

Filed Under: News Tagged With: Insurance Auto Auctions, Maryland, Minnesota, Openings

Ancora Opposes IAA Sale to Ritchie Bros.

November 15, 2022 By CollisionWeek Editor

Ancora Holdings Group, LLC, that owns approximately 4% of the outstanding shares of IAA, Inc. (NYSE:IAA) yesterday released a letter to the IAA Board of Directors stating it opposes the proposed sale to Ritchie Bros. Auctioneers Incorporated (NYSE: RBA) (TSE: RBA) that was announced last week. “We have had long-standing concerns regarding IAA’s capital allocation, […]

Filed Under: News Tagged With: Acquisitions, Ancora Holdings, Insurance Auto Auctions, Ritchie Bros

Progressive Celebrates 10 Years of the Keys to Progress Program

November 10, 2022 By CollisionWeek Editor

Over 900 vehicles donated through program to military families. Progressive Insurance announced its 10th annual Keys to Progress vehicle giveaway taking place today. Ahead of Veterans Day, 100 veterans and military-related organizations across the country will receive the keys to vehicles that will provide reliable transportation, helping them and the veterans they serve get back […]

Filed Under: News Tagged With: Donations, Enterprise Rent-A-Car, Insurance Auto Auctions, Progressive Insurance

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