Ancora Issues Statement Regarding Shareholders’ Approval of the IAA and Ritchie Bros. Combination
03/14/2023 - 05:00 PM
CLEVELAND --(BUSINESS WIRE)--
Ancora Holdings Group, LLC (together with its affiliates, “Ancora”), which is the beneficial owner of approximately 4% of the outstanding shares of IAA, Inc. (NYSE: IAA) (“IAA”) and 0.5% of the outstanding shares of Ritchie Bros. Auctioneers Incorporated (NYSE: RBA) (TSX: RBA) (“Ritchie Bros.”), today applauded the approval of the companies’ combination.
Fredrick D. DiSanto , Chairman and Chief Executive Officer of Ancora, and James Chadwick , President of Ancora Alternatives LLC , commented:
“We are very pleased that IAA shareholders and Ritchie Bros. shareholders have approved the revised transaction, which stands to create a dominant player in the industry and a source of long-term value creation. We look forward to supporting Ann Fandozzi and her talented management team as they work to integrate both companies in the coming months. Ann is an exceptional leader that has our full confidence. We also believe our director designee, Tim O’Day, will add significant expertise to the combined entity’s new Board of Directors.”
About Ancora
Founded in 2003, Ancora Holdings Group, LLC offers integrated investment advisory, wealth management and retirement plan services to individuals and institutions across the United States . The firm's comprehensive service offering is complemented by a dedicated team that has the breadth of expertise and operational structure of a global institution, with the responsiveness and flexibility of a boutique firm. For more information about Ancora, please visit https://ancora.net .
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Longacre Square Partners
Greg Marose / Charlotte Kiaie , 646-386-0091
ancora@longacresquare.com
Source: Ancora Holdings Group, LLC
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All Other Business Support Services
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Administrative and Support and Waste Management and Remediation Services
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All Other Business Support Services , Administrative and Support and Waste Management and Remediation Services, Commercial Services, Miscellaneous Commercial Services
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Canada
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Burnaby
About RBA
established in 1958, ritchie bros. (nyse and tsx: rba) is a global asset management and disposition company, offering customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets. operating in a multitude of sectors, including construction, transportation, agriculture, energy, oil and gas, mining, and forestry, the company’s selling channels include: ritchie bros. auctioneers, the world’s largest industrial auctioneer offers live auction events with online bidding; ironplanet, an online marketplace with featured weekly auctions and providing its exclusive ironclad assurance® equipment condition certification; marketplacee, an online marketplace offering multiple price and timing options; mascus, a leading european online equipment listing service; and ritchie bros. private treaty, offering privately negotiated sales. the company also offers sector-specific solutions including govplanet, truckplanet, kruse energy auctioneers, and cat® auctions, plu