Independent Auto Auction Services Corporation (IAASC) is negotiating to acquire the assets of Auction Academy, a leadership development program affiliated with TPC Management. The proposed acquisition would place the program under the ownership of a consortium of independent auto auctions, with plans to expand its reach and continue developing future industry leaders.

The transaction is expected to close by the end of 2026. Penny Wanna will remain president of Auction Academy, providing continuity as the program prepares to welcome its tenth class in February 2027.

Founded by the owners of TPC Management in 2011, Auction Academy has graduated more than 180 students across nine classes. The program focuses on developing the operational knowledge, professional relationships, and leadership skills needed in the automotive remarketing industry.

"The long-term strength of the auction industry depends on the people who will lead it tomorrow," said Ryan Clark, president of IAASC. "Auction Academy has built an exceptional foundation, and we’re excited to build on that foundation. By bringing this program under the ownership of auctions themselves, we’re making a direct investment in our industry’s future."

Building on 15 Years of Auction Industry Education

Auction Academy's two-year curriculum combines hands-on learning with exposure to multiple areas of auction operations, including facility planning and design, technology systems, insurance, vendor management, conflict resolution, safety, and organizational leadership.

Under IAASC ownership, the organization plans to explore opportunities to strengthen the curriculum, increase participation, and attract additional sponsors while maintaining the program's focus on practical education and industry relationships.

"IAASC has always been looking for something within the industry to partner with that can be a game changer and truly move the needle," said Chad Bailey, IAASC board member. "Powering Auction Academy checks all the boxes, and we cannot wait to bring on even more students and sponsors to take things to a completely new level."

For TPC Management, the proposed transition follows 15 years of operating a program designed to support leadership development within the independent auction community.

"When we launched Auction Academy in 2011, our vision was to create something that would have a lasting impact on the independent auction industry," said Pierre Pons, CEO of TPC Management. "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."

Auction Academy Prepares for Its Tenth Class

The ownership transition comes as Auction Academy prepares for its next class in February 2027.

Wanna, who will continue leading the program, said maintaining the relationships and hands-on learning opportunities that have defined Auction Academy will remain a priority.

"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," said Wanna. "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."

The proposed acquisition would allow IAASC to build on the program established by TPC Management while supporting continued professional development across the independent auto auction industry.