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RB Global, Inc. (NYSE: RBA, TSX: RBA) is a globally renowned asset management and disposition company established in 1958 and headquartered in Westchester, Illinois. Specializing in the buying and selling of used heavy equipment, trucks, and other assets, RB Global offers comprehensive end-to-end solutions across various sectors, including construction, transportation, agriculture, energy, oil and gas, mining, and forestry.
RB Global operates through multiple selling channels:
- Ritchie Bros. Auctioneers: The world's largest industrial auctioneer providing live auction events with online bidding.
- IronPlanet: An online marketplace featuring weekly auctions and offering IronClad Assurance® equipment condition certification.
- Marketplace-E: An online marketplace providing multiple price and timing options.
- Mascus: A leading European online equipment listing service.
- Ritchie Bros. Private Treaty: Offering privately negotiated sales.
Additionally, RB Global caters to specific sectors through GovPlanet, TruckPlanet, and Kruse Energy Auctioneers.
The company has expanded its reach by merging with IAA, a major global digital marketplace connecting vehicle buyers and sellers. Through this collaboration, RB Global continues to enhance its omnichannel marketplace, providing value-added insights, services, and transaction solutions for commercial assets and vehicles. RB Global serves customers in more than 170 countries through auction sites in 14 countries and a robust digital platform.
RB Global is known for its massive auction events, including the record-setting 2024 global auction in Orlando with over 16,500 items and generating over $258 million in gross transaction value (GTV). Another notable event was the Edmonton auction, which set a new Canadian record with nearly CAD $250 million in GTV.
Recent achievements include strategic market alliances such as the one with Lion Trans in Georgia and Baltic Auto Shipping in Lithuania, aimed at increasing market share and improving global customer experience. RB Global's portfolio also includes Rouse Services, SmartEquip, Xcira, and VeriTread, which provide asset management, data-driven intelligence, and live auction technology solutions.
As part of its financial performance, RB Global consistently delivers solid growth, with a notable reduction in leverage and strong quarterly earnings. The company declared a quarterly cash dividend of $0.27 per common share, reflecting its commitment to shareholders.
RB Global's dedication to innovation, strategic growth, and operational excellence makes it a significant player in the global marketplace for commercial assets and vehicles.
Ritchie Bros has launched RitchieList.com, a user-friendly self-serve listing service for selling equipment privately. This platform allows sellers to have greater control, setting their own prices and managing transactions securely. The service includes features like inventory management, data analytics, and access to Ritchie Bros' global network of buyers. The company aims to streamline the selling process, making it accessible for individual sellers and equipment dealers alike. A webinar about Ritchie List will be held on October 25.
Ritchie Bros. Auctioneers (NYSE: RBA) announces the appointment of Lisa Hook to its Board of Directors effective November 1, 2021. Lisa brings extensive experience in transforming and scaling businesses through technology. Erik Olsson, Chairman, expressed confidence in her valuable perspective, while Ann Fandozzi, CEO, highlighted her role in achieving the company’s strategic vision. Hook has held pivotal roles at major firms and is currently involved with several other boards.
On November 3, Ritchie Bros will host a significant online crane auction in Decatur, Alabama. The auction includes over 220 items from Sparks Industrial, featuring 38 cranes like a 2013 Grove GML7550 550-ton all-terrain crane and a 2020 GMK5250XL 300-ton crane. There will be no minimum bids or reserve prices. Interested buyers can inspect the machinery from October 18 at Sparks Industrial’s yard or view online via high-resolution images. This event promises a rare chance to acquire high-quality cranes.
The recent Ritchie Bros. Rocky Mountain online auction, held on October 6-7, attracted over 11,200 bidders from 62 countries, competing for more than 2,900 items. This event generated more than US$41 million in gross transaction value. Approximately 93% of the assets were sold to U.S. buyers. The auction saw a significant rise in pre-auction interest, with a 96% increase in online views and a 48% increase in watchlist additions compared to the previous event. Notable items included a Caterpillar motor scraper selling for US$415,000.
Ritchie Bros. (NYSE: RBA) will host its third quarter 2021 earnings conference call on November 5, 2021, at 11:00 a.m. ET. The earnings results will be released after market close on November 4, 2021. Analysts can join via established conference call lines, while interested parties can listen through a webcast available on their investor page. Presentation slides will accompany the call, and a replay will be accessible until December 5, 2021.
Established in 1958, Ritchie Bros. is a global leader in asset management and disposition solutions.
Ritchie Bros Auctioneers announces the planned retirement of Sharon Driscoll, Chief Financial Officer, within two years. Driscoll will continue in her role until a successor is appointed, after which she will serve as an Executive Vice President and advisor to the CEO. CEO Ann Fandozzi credited Driscoll with strengthening the company financially, enabling growth through challenging times. Ritchie Bros, established in 1958, is a global asset management company specializing in buying and selling used heavy equipment.
Ritchie Bros. held its Great Lakes Regional Event from Sep. 28-29, attracting over 10,000 bidders and generating a gross transaction value of more than USD 43 million from 3,600+ sold items. Approximately 88% of sales were to U.S. buyers, with significant demand noted for transportation equipment. The auction saw a 23% increase in bidder registrations compared to the previous event in June. Key sales included a 2011 Grove crane for USD 505,000 and a 2017 John Deere excavator for USD 270,000. Upcoming auctions include the Rocky Mountain Regional Event on Oct. 6-7.
Ritchie Bros (NYSE: RBA) announces the acquisition of SmartEquip for approximately US$175 million, enhancing its customer service lifecycle management. This strategic move aims to provide integrated parts procurement and improve service support for fleet assets. SmartEquip, with a transaction volume of about $1 billion annually, will continue to operate independently. The partnership is expected to deepen inventory management system connectivity and streamline digital solutions for Ritchie Bros. This transaction is subject to customary closing conditions, including antitrust approvals.
Ritchie Bros. held a successful auction in Fort Worth, Texas on September 24, 2021, attracting over 12,600 online bidders from 64 countries. The auction generated a gross transaction value of more than US$57 million, indicating strong market demand with a 17% increase in bidders from the previous year. Approximately 92% of the items were sold to U.S. buyers. Key sales included a John Deere cable plow fetching US$485,000. The company is set to host additional auctions, including its final Fort Worth event in December.
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