Ritchie Bros. to acquire IronPlanet, enter alliance with Caterpillar

by Truck West

VANCOUVER, B.C. – Ritchie Bros. announced today (Aug. 29) that it will acquire IronPlanet, an online marketplace for used and heavy equipment, for approximately US$758.5 million, subject to customary closing adjustments.

Ritchie Bros. also said it would enter into a long-term strategic alliance with Caterpillar to be its preferred global partner for live onsite and online auctions upon completion of the IronPlanet acquisition.

“This transformative transaction is the logical next step for Ritchie Bros., building on our multi-channel platform, global reach and long-standing customer relationships,” said Ravi Saligram, CEO of Ritchie Bros.

Saligram added that Ritchie Bros. was proud to enter into an historic alliance with Caterpillar, which will strengthen the two companies’ relationship.


Have your say


This is a moderated forum. Comments will no longer be published unless they are accompanied by a first and last name and a verifiable email address. (Today's Trucking will not publish or share the email address.) Profane language and content deemed to be libelous, racist, or threatening in nature will not be published under any circumstances.

*