Ritchie Bros. Auctioneers Acquires IronPlanet for $758,500,000
- Feed Type
- Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=b2b4a014-60b6-4c63-b012-3d6bcbfbb721 - 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.
