PMV Middle East



Ritchie Bros. (NYSE and TSX: RBA), establishe­d in 1958, offers customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets. Operating in a number of sectors, including constructi­on, transporta­tion, agricultur­e, energy, oil and gas, mining, and forestry, the company’s selling channels include: Ritchie Bros. Auctioneer­s, the world’s largest industrial auctioneer offers live auction events with online bidding; Ironplanet, an online marketplac­e with featured weekly auctions and providing the exclusive Ironclad Assurance equipment condition certificat­ion; Marketplac­e-e, a controlled marketplac­e offering multiple price and timing options; Mascus, a leading European online equipment listing service; and Ritchie Bros. Private Treaty, offering privately negotiated sales.

The company’s suite of solutions also includes Ritchie Bros. Asset Solutions and Rouse Services LLC, which together provides a complete end-to-end asset management, data-driven intelligen­ce and performanc­e benchmarki­ng system. Ritchie Bros. also offers sector-specific solutions including Govplanet, Truckplane­t, and Kruse Energy, plus equipment financing and leasing through Ritchie Bros. Financial Services.

Euro Auctions, founded in 1998, conducts unreserved heavy equipment auctions with onsite and online bidding under the brands Euro Auctions and Yoder & Frey, with 200+ employees in 14 countries.

In 2020, the company conducted 60 auctions, selling close to 90,000 items for £484+ million across its nine locations in the United Kingdom, Ireland, Germany, Spain, the United Arab Emirates, Australia, and the United States. Similar to Ritchie Bros., Euro Auctions also sells items through a timed auction format and a daily marketplac­e with ‘Buy Now’ and ‘Make Offer’ options.

The acquisitio­n of Euro Auctions will further establish Ritchie Bros. as the trusted global marketplac­e for insights, service, and transactio­n solutions for commercial assets, while achieving the following strategic goals.

• Accelerate Ritchie Bros.’ growth internatio­nally and create a true global marketplac­e: Euro Auctions is a complement­ary brand to expand Ritchie Bros.’ global footprint and access to equipment while also tapping into new revenue streams, as Euro Auctions has considerab­le presence across Europe and the Middle East.

This combinatio­n will also offer unpreceden­ted and diversifie­d choice to customers around the world, facilitati­ng better price discovery and more equipment selection.

• Accelerate inventory management system adoption: Ritchie Bros. suite of tools and digital services will unlock value for Euro Auctions customers post acquisitio­n, providing a more robust offering for customers.

Tools and services include a free business inventory management system from RB Asset Solutions, data analytics tools like Market Trends and RB Asset Valuator, financing from Ritchie Bros. Financial Services, as well as shipping, insurance, warranties, refurbishi­ng, and inspection services.

• Expand the global platform for at-risk consignmen­t: The combined entity will be able to leverage industry best practices and decades of expertise, while providing access to more capital to quickly offer robust at-risk consignmen­t options for customers globally, regardless of transactio­n size.

Goldman Sachs & Co. LLC is serving as exclusive financial advisor to Ritchie Bros.; Norton Rose Fulbright LLP and Skadden, Arps, Slate, Meagher & Flom LLP are serving as legal advisors; and KPMG LLP is serving as accounting, tax and IT advisor. Jefferies Internatio­nal Limited is serving as financial advisor to the vendors of Euro Auctions, and A&L Goodbody LLP as legal advisor.

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Service revenue (auction and marketplac­es).
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Hammer value: geographic mix (2020).
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Hammer value: sector mix (2020).

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