Hilco Commercial Industrial and Ritchie Bros. Selected to Oversee Sale of Highway Equipment Company Assets

Rhea-AI Summary

Hilco Commercial Industrial (HCI) and Ritchie Bros. Auctioneers have been selected to manage the asset sale of Highway Equipment Company, a Pennsylvania-based provider of material handling equipment established in 1933. The sale encompasses over 2,700 assets, including:

• 10+ Mobile Crushing Units
• 15+ Tracked Screening Plants
• 35+ Tracked Excavators
• 20+ Articulated Dump Trucks
• 15+ Crawler Tractors
• 20+ Wheel Loaders
• 30+ Track Loaders
• 40+ Skid Steers

The equipment spans highway, construction, oil and gas, mining, quarry, and industrial material handling sectors.

Positive

• Partnership with Hilco Commercial Industrial expands Ritchie Bros.' market reach
• Large-scale asset sale of over 2,700 pieces of equipment adds significant inventory
• Diversification into multiple industrial sectors through acquired equipment portfolio

Negative

• None.

Insights

Market Research Analyst

This asset sale, while significant for Highway Equipment Company, has minimal direct impact on Ritchie Bros.' (RBA) financial outlook. The sale of 2,700+ pieces of equipment, while substantial, represents a routine business operation for RBA, which handles numerous such sales annually. The collaboration with Hilco Commercial Industrial aligns with RBA's standard business model of partnering with other firms to maximize reach and effectiveness.

The equipment mix, including specialized machinery for construction and material handling, could attract strong buyer interest given the current robust demand in infrastructure and construction sectors. However, the revenue impact from this single sale is unlikely to materially affect RBA's overall financial performance given their $18.1B market cap and global scale of operations.

Asset sale offers unique opportunity to acquire extensive highway, construction, and material handling equipment across multiple states

NORTHBROOK, Ill., Dec. 5, 2024 /PRNewswire/ -- Hilco Commercial Industrial (HCI) and Ritchie Bros. Auctioneers (Ritchie Bros.)  are pleased to announce their engagement to monetize assets owned by Highway Equipment Company, a trusted name in material handling equipment. Established in 1933, the Pennsylvania-based company was one of America's leading providers of highway, construction, oil and gas, mining, quarry and industrial material handling equipment for over 90 years.

The asset sale will make available an impressive selection of equipment, including a vast assortment of yellow iron, attachments, compaction equipment, articulated dump trucks, aggregate crushing machinery, and hundreds of other essential support assets. Interested buyers have a valuable opportunity to secure quality machinery suited to a wide range of applications within these industries. The more than 2,700 assets will include:

• 10+ Mobile Crushing Units
• 15+ Tracked Screening Plants
• 35+ Tracked Excavators
• 20+ Articulated Dump Trucks
• 15+ Crawler Tractors
• 20+ Wheel Loaders
• 30+ Track Loaders
• 40+ Skid Steers

"Our engagement to monetize Highway Equipment Company's assets reflects our dedication to providing effective solutions for transitioning asset portfolios," said Brent Bonham, Managing Director at Hilco Commercial Industrial. "This sale enables industry players to obtain high-quality equipment, reinforcing their operations with assets built for demanding applications."

"We're thrilled to collaborate with Hilco Commercial Industrial to showcase this impressive array of equipment assets to buyers worldwide," said Jake Lawson, President, Ritchie Bros. North American Sales. "Together, we're committed to leveraging our combined expertise and vast buyer network to deliver maximum visibility and foster strong, competitive bidding for every asset."

For details on available assets and acquisition procedures, interested parties are encouraged to contact Hilco Commercial Industrial or visit www.ironplanet.com/Highway-Equipment. Comprehensive information and a catalog of assets will be provided upon request.

About Hilco Commercial Industrial: Hilco Commercial Industrial (www.HilcoCI.com) is the preeminent global authority on providing clients with highly customized acquisition, disposition, and advisory solutions with respect to commercial and industrial assets, as well as providing bespoke capital solutions. Based upon a thorough understanding of its clients' assets and the intricacies of the business operations that utilize those assets, Hilco Commercial Industrial has established a dependable reputation for delivering results to companies at every stage of their life cycles.

Hilco Commercial Industrial is part of Northbrook, Illinois based Hilco Global (www.hilcoglobal.com), the world's leading authority on maximizing the value of business assets by delivering valuation, monetization, advisory, and capital solutions to an international marketplace. Hilco Global operates more than twenty specialized business units offering services that include asset valuation and appraisal, retail and industrial inventory acquisition and disposition, real estate and strategic capital equity investments.

About Ritchie Bros.: Ritchie Bros. Auctioneers, an RB Global company (NYSE: RBA) (TSX: RBA), is a global asset management and disposition company, offering customers end-to-end solutions for buying and selling used heavy equipment, trucks, and other assets. Ritchie Bros. was established in 1958 in Kelowna, Canada. With a global network of 60+ permanent auction sites around the world and operations in 14+ countries, Ritchie Bros. sells billions of dollars of heavy equipment and trucks each year via our multiple selling platforms: Ritchie Bros. Auctioneers, IronPlanet, and Marketplace-E. For more information about Ritchie Bros., visit rbauction.com. 

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SOURCE Hilco Commercial Industrial

FAQ

What types of assets are included in the Highway Equipment Company sale by Ritchie Bros (RBA)?

The sale includes over 2,700 assets including mobile crushing units, tracked screening plants, excavators, articulated dump trucks, crawler tractors, wheel loaders, track loaders, and skid steers.

How many mobile crushing units and tracked excavators are available in the Ritchie Bros (RBA) Highway Equipment sale?

The sale includes more than 10 mobile crushing units and over 35 tracked excavators.

Where can buyers find information about the Highway Equipment assets being sold through Ritchie Bros (RBA)?

Interested buyers can contact Hilco Commercial Industrial or visit www.ironplanet.com/Highway-Equipment for detailed information and asset catalogs.