1415 ET - RB Global's IAA business has a lot of growth potential and can even capture a large part of the vehicle remarketing and salvage auction market. CIBC's Krista Friesen says in a report that the business, acquired in March 2023, currently holds 35% of the auto salvage market, but management thinks they can grow this to 50% or more. Friesen estimates that most contracts with insurance carriers range from 3-5 years, implying that 20%-33% of the market is potentially up for bid each year. "We view the increase from 35% to 50% as a significant growth opportunity, and that is just taking into account the U.S. market," she says, which also offers a sizable growth opportunity also internationally. (adriano.marchese@wsj.com)
(END) Dow Jones Newswires
June 10, 2025 14:15 ET (18:15 GMT)
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