Tag: Ritchie Bros. IronPlanet

Dealers

IronPlanet buyers now have access to Ritchie Bros. financing

Auction giant Ritchie Bros. says its financial services are now available to customers of IronPlanet, which Ritchie bought this year. IronPlanet’s customer base can now access LeaseFlex and PurchaseFlex financing, which Ritchie Bros. Financial Services (RBFS) says offer more flexibility and convenience compared to traditional bank financing. The easier process can help buyers get quicker […]

October 20, 2017

Dealers

Business Roundup: Ritchie Bros. completes IronPlanet buy; Highway, bridge construction jobs up; Construction adds 11,000 jobs; Genie’s new boom cable replacement protocols

Genie: New protocols for replacing boom cables cut owner costs Genie has revised its protocols for cable replacement on certain models of telescopic booms, a move the company says will reduce owners’ costs. The company will no longer require mandatory replacement of the boom extend and retract cables every 10 years. Instead, it will require […]

June 20, 2017

Dealers

Ritchie Bros. completes IronPlanet purchase, outlines organizational structure

Ritchie Bros. announced it has completed its purchase of IronPlanet, a transaction valued at roughly $758.5 million and financed through a senior note offering and secured term loan facility. The company announced plans for the acquisition last August and it was approved by the U.S. Department of Justice’s Antitrust Division in May. The deal also initiates […]

June 12, 2017

Business

Year in Review: The Biggest Construction Equipment News Stories of 2016

While everyone has their sights on ConExpo in March, it might be easy to overlook what a busy year 2016 turned out to be. Here’s an quick overview, plus a timeline, of what happened in the construction equipment industry last year. Bonus: check out our editors’ quick predictions for 2017 on page 30. (Note: In order to meet […]

December 22, 2016

Dealers

Ritchie Bros. to acquire online equipment auctioneer IronPlanet for $758.5 million

Announced late Monday evening, the auction giant Ritchie Bros. is acquiring internet-based auction company IronPlanet for approximately $758.5 million. The deal is Ritchie Bros. second acquisition this month following an August 2 announcement that the company would buy New England-based Petrowsky Auctioneers for $7 million. IronPlanet burst onto the heavy equipment auction scene in 1999 […]

August 29, 2016