Ritchie Bros. Auctioneers Acquires IronPlanet for $758,500,000

  • Feed Type
  • Date
    8/31/2016
  • Company Name
    IronPlanet
  • Mailing Address
    3825 Hopyard Road Pleasanton, CA 94588 USA
  • Company Description
    IronPlanet is the leading online marketplace for used heavy equipment. Our sellers achieve more profitable sales through low transaction costs and better price realizations through a global audience of buyers. Our guaranteed inspection reports and exclusive IronClad Assurance enable buyers to bid with a high degree of confidence.
  • Website
    http://www.ironplanet.com.au
  • Transaction Type
    M&A
  • Transaction Amount
    $758,500,000
  • Transaction Round
  • Proceeds Purposes
  • M&A Terms
    Together with IronPlanet, we will create a combined company of trusted brands with the ability to provide customers around the world with a greater number of choices and platforms to sell, buy and list equipment when, where and how they want – whether onsite or online. Under the terms of the transaction, Ritchie Bros. will acquire 100% of the equity of IronPlanet for approximately US$740 million in cash and the assumption of unvested equity interests in IronPlanet, subject to adjustment, that brings the total transaction value to approximately US$758.5 million.

Trending on Xconomy