IAASC to acquire Auction Academy; Wanna to remain president
Auction Academy president Penny Wanna speaking to Class 7 during the 2023 NAAA Convention. Photo by Randall Photography, courtesy of Auction Academy.
By subscribing, you agree to receive communications from Auto Remarketing and our partners in accordance with our Privacy Policy. We may share your information with select partners and sponsors who may contact you about their products and services. You may unsubscribe at any time.
The Independent Auto Auction Services Corporation, which is a consortium of independent auto auctions, is in negotiations to acquire Auction Academy, which is affiliated with TPC Management Company.
TPC founded Auction Academy in 2011.
The transaction is expected to close by year’s end.
Under IAASC, the program would “continue its mission of developing industry talent while exploring new opportunities to expand its reach, strengthen its curriculum, and support the long-term success of the industry,” officials said in a news release.
Penny Wanna would remain Auction Academy president.
“The long-term strength of the auction industry depends on the people who will lead it tomorrow,” IAASC president Ryan Clark said in a news release. “Auction Academy has built an exceptional foundation, and we’re excited to build on that foundation.
Subscribe to Auto Remarketing to stay informed and stay ahead.
By subscribing, you agree to receive communications from Auto Remarketing and our partners in accordance with our Privacy Policy. We may share your information with select partners and sponsors who may contact you about their products and services. You may unsubscribe at any time.
“By bringing this program under the ownership of auctions themselves, we’re making a direct investment in our industry’s future. Our goal is simple: develop great leaders, strengthen our teams, and ensure our industry continues to thrive for generations to come.”
TPC Management CEO Pierre Pons added, “When we launched Auction Academy in 2011, our vision was to create something that would have a lasting impact on the independent auction industry. Fifteen years and more than 180 graduates later, we’re incredibly proud of what the Academy has become.
“IAASC is a natural next steward of the program. With independent auctions directly invested in its success, I’m confident Auction Academy will continue to grow and make an even greater impact on our industry.”
Auction Academy will begin its 1oth class in February.
“One of the most rewarding aspects of Auction Academy is watching our students grow into confident leaders and build relationships that last throughout their careers,” Wanna said. “I’m excited about this next chapter and the opportunities that come with IAASC’s commitment to the program.
“We’ll preserve the hands-on education and personal connections that have made the Academy special while continuing to evolve to meet the changing needs of our industry.”
