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.”
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.