Ritchie Bros to Acquire Online Heavy Equipment Dealer IronPlanet for US$758.5 Million

RITCHIE BROS. AUCTIONEERS - Ritchie Bros. final auctions of 2013

Canadian-based Ritchie Bros Auctioneers Incorporated is acquiring IronPlanet for approximately US$758.5 million to accelerate its customer centric multi-channel diversification strategy. Ritchie Bros is world’s largest industrial auctioneer and a leading equipment distributor. IronPlanet is a leading online marketplace for used heavy equipment and other durable asset sales. IronPlanet will complement Ritchie Bros’ primarily end-user customer base as it focuses mainly on the needs of corporate accounts, equipment manufacturers, dealers and government entities in equipment disposition solutions. Its sales are mainly conducted through online-only platforms, with weekly online auctions and in other equipment marketplaces.

Read more: http://www.researz.com/ritchie-bros-acquire-online-heavy-equipment-dealer-ironplanet-us758-5-million

 

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