Ritchie Bros. receives support from large shareholders regarding IAA deal

Ritchie Bros. (RBA) 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 regarding the acquisition of IAA, Inc. (IAA): "Vontobel Asset Management, which owns 2.15% of Ritchie Bros. shares, has joined many other Ritchie Bros.’ shareholders, including a number of our largest shareholders, in publicly supporting the IAA acquisition. We thank Ritchie Bros. shareholders for their strong support, which has been expressed both publicly and in our private conversations. This shareholder support, the positive commentary from independent third-party industry analysts and the increase in Ritchie Bros. stock price since the transaction was announced are all evidence that shareholders and analysts share our enthusiasm for the benefits and upside opportunities that a Ritchie Bros. + IAA combination creates. Importantly, employees and customers are also excited about bringing Ritchie Bros. and IAA together. The Ritchie Bros. management team has a proven record of execution. Integration planning is progressing well, and we are confident in our ability to deliver even greater shareholder value with IAA. In addition to the support announced yesterday by Vontobel Asset Management, Independent Franchise Partners and Eagle Asset Management, who are also among Ritchie Bros.’ largest shareholders, have publicly announced their support for the IAA acquisition. Independent third-party industry analysts also recognize the expected benefits and value creation opportunities enabled by the IAA acquisition."