M&A Deal Summary

Ritchie Bros Acquires IAA

On March 20, 2023, Ritchie Bros acquired automotive company IAA

Acquisition Highlights
  • This is Ritchie Bros’ 2nd transaction in the Automotive sector.
  • This is Ritchie Bros’ 10th transaction in the United States.
  • This is Ritchie Bros’ 1st transaction in Illinois.

M&A Deal Summary
Date 2023-03-20
Target IAA
Sector Automotive
Buyer(s) Ritchie Bros
Deal Type Add-on Acquisition
Advisor(s) J.P. Morgan Securities (Financial)
Cooley LLP
Blake, Cassels & Graydon LLP
Latham & Watkins (Legal)

Target

IAA

Westchester, Illinois, United States
website
IAA is a provider of automotive salvage auction and claims processing services. The company's platform facilitates the marketing and sale of total loss, damaged, and low-value vehicles for a range of sellers. IAA was founded in 1982 and is based in Westchester, Illinois.

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Buyer(S) 1

Buyer

Ritchie Bros

Burnaby, British Columbia, Canada

website

Category Company
Founded 1958
Sector Business Services
Employees2,600
Revenue 1.7B USD (2022)
DESCRIPTION

Ritchie Bros is an auctioneer of heavy equipment and trucks. Ritchie Bros was founded in 1958 and is based in Burnaby, Canada.

DEAL STATS #
Overall 13 of 13
Sector (Automotive) 2 of 2
Type (Add-on Acquisition) 12 of 12
State (Illinois) 1 of 1
Country (United States) 10 of 10
Year (2023) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-09 VeriTread

Lakeland, Florida, United States

VeriTread provides an online transportation marketplace that connects construction equipment owners with transportation service providers. VT enhances its products by providing a suite of innovative decision tools, enabling customers to make smarter, more effective arrangement of heavy-haul transportation. VeriTread was founded in 2013 and is based in Lakeland, Florida.

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Product

Company

Legal