The decision by Canada-based Ritchie Bros. to call off the purchase follows after the UK Competition and Markets Authority (CMA) referred the deal for an in-depth Phase 2 investigation. VANCOUVER, BC, Dec. 6, 2021 /PRNewswire/ - Ritchie Bros. Auctioneers Incorporated (NYSE: RBA ) (TSX: RBA), (" Ritchie Bros . Ritchie Bros and Europes leading plant and machinery auction house, Euro Auctions, have jointly announced that they have entered into an agreement under which Ritchie Dave Ritchie and his brothers were a big inspiration for my brothers and I in the creation of Euro Auctions, said Euro Auctions founder and director Derek Keys. This acquisition significantly accelerates our strategy to drive revenue and earnings growth and add shareholder value by continuing to expand our capabilities in new channels, sectors, regions, and customer segments.Euro Auctions Founder and Director Derek Keys added, Dave Ritchie and his brothers were a big inspiration for my brothers and I in the creation of Euro Auctions. "), today announced that it intends to The Notes will be offered and sold only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A of the Securities Act of 1933, as amended (the "Securities Act"), and to non-U.S. persons outside the U.S. in reliance on Regulation S of the Securities Act. VANCOUVER, BC, Dec. 6, 2021 /PRNewswire/ - Ritchie Bros. Auctioneers Incorporated , today announced that it intends to commence an offering for approximately $935 million aggregate | December 17, 2022 "Euro Auctions has an incredibly talented team, with expertise in asset sourcing, auction operations, sales, and customer service. Last year it conducted 60 auctions that sold close to 90,000 items. WebSimilar sold items. Year. We are unable to present a quantitative reconciliation of these forward-looking non-GAAP financial measures because management cannot reliably predict all of the necessary components of such measures without unreasonable efforts. (Today's Trucking will not publish or share the email address.) All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Euro Auctions was established in County Tyrone in 1998, Derek and Jonnie Keys said they were delighted for the company after the deal was announced last year. Euro Auctions has an incredibly talented team, with expertise in asset sourcing, auction operations, sales, and customer service. Data returned from the Piano 'meterActive/meterExpired' callback event. In 2020 the company conducted 60 auctions, selling close to 90,000 items for over USD$670 million across its nine locations in the United Kingdom, NorthernIreland, Germany, Spain, the United Arab Emirates, Australia and the United States. Ritchie Bros Bidding 2023 AGROTK LBT23 Mini Compact Track Loader (Unused) This represents an implied multiple of ~15.3x 2021E EBITDA (non-GAAP measure), including run rate synergies. SSABs Roadmap to Deliver Fossil-Free Steel at a Commercial Scale by 2026, Engcon Announces the Compatibility of Its Next Gen of Control System, DC3, With Cat Next Gen Hydraulic Excavator (NGH), HCM Europe has selected BNP Paribas as Leasing Solutions Provider, FPT Industrial Engines Displayed at CICEE 2023, Chinese Largest CE Fair, Ritchie Bros. Acquires Euro Auctions and Strengthen its Position in EMEA Market, The First Kalmar Electric Reachstacker in Germany, HIMOINSA Acquires Powersil: Benchmark Power Solutions. Similar sold items. In 2020 the company conducted 60 auctions, selling close to 90,000 items for more than $569 million across its nine locations in the United Kingdom, Northern Ireland, Germany, Spain, the United Arab Emirates, Australia and the United States. In a bid to expand its presence in the EMEA region, Canadian asset manager and heavy equipment auctioneer Ritchie Bros. is set to acquire Euro Auctions in a deal with an Euro Auctions sale: Ritchie Bros. calls off 775m deal This website and associated newspapers adhere to the Independent Press Standards Organisation's Euro Auctions is the clear market leader, with Ritchie Bros ranked as the second largest provider. HQM is the digital magazine focused on Construction, Earthmoving, Lifting, Mining, Heavy-duty Farm equipment for the global market. News Releases - August 8, 2021 | Ritchie Bros. Auctioneers Company News. When typing in this field, a list of search results will appear and be automatically updated as you type. Ritchie Bros. will buy Euro Auctions, parent of Yoder & Frey, in a $1.08 billion deal Ritchie says will give it a larger footprint in Europe and the Middle East. From: Competition and Markets Authority Published 13 Ritchie Bros. will be retaining Euro Auctions employees and its brand, both of which are highly regarded in the EMEA region. At Ritchie Bros., it's always free to register and bid online in any of our live auctions - we do not charge any fees in order to use this service, regardless of whether you bid via our website, our mobile app, or if you place a PriorityBid. RB Global Inc. - Ritchie Bros. to acquire Euro Auctions and expand WebRitchie Bros. Auctioneers Get ready for the auction Online bidding is always free At Ritchie Bros., it's always free to register and bid online in any of our live auctions - we do not charge any fees in order to use this service, regardless of whether you bid via our website, our mobile app, or if you place a PriorityBid Now accepting PriorityBids The equipment-as-a-service sector is poised for monumental growth, thanks to the by Matthew Hudson, Spencer Lippman, Chris Sweet. Euro Auctions sold to Ritchie Bros At Ritchie Bros., it's always free to register and bid online in any of our live auctions - we do not charge any fees in order to use this service, regardless of whether We modeled much of what we do off Dave's customer-centric philosophy, which still runs through Ritchie Bros. today. It is said that Jonnie Keys will assume a senior leadership position, and Lynden and Trevor Keys will be retained as sourcing leads. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as "expect", "plan, "anticipate", "project", "target", "potential", "schedule", "forecast", "budget", "estimate", "intend" or "believe" and similar expressions or their negative connotations, or statements that events or conditions "will", "would", "may", "could", "should" or "might" occur. Profane language and content deemed to be libelous, racist, or threatening in nature will not be published under any circumstances. Ritchie Bros. announces discontinuation of Euro Auctions Close. We modeled much of what we do off Daves customer-centric philosophy, which still runs through Ritchie Bros. today. This acquisition significantly accelerates our strategy to drive revenue and earnings growth and add shareholder value by continuing to expand our capabilities in new channels, sectors, regions, and customer segments., Euro Auctions Founder and Director Derek Keys added, Dave Ritchie and his brothers were a big inspiration for my brothers and I in the creation of Euro Auctions. Ritchie Bros. and Euro Auctions are an ideal fit with a united goal to make asset insights, service offerings and disposition solutions easier than ever, said Ann Fandozzi, Ritchie Bros. CEO. Private Treaty, offering privately negotiated sales. This website and associated newspapers adhere to the Independent Press Standards Organisation's Ritchie Bros., a leading global asset management, disposition, and services company; and Europe's leading plant and machinery auction house, Euro Auctions, have jointly announced that they have entered into an agreement under which Ritchie Bros. will acquire Euro Auctions group for an enterprise value of 775 million (approximately The sales were spread across its nine locations in Great Britain, Northern Ireland, Germany, Spain, the United Arab Emirates, Australia and the US. Providers, Author It has grown to have more than 200 staff across 14 countries. Similar to Ritchie Bros., Euro Auctions also sells items through a timed auction format and a daily marketplace with Buy Now and Make Offer options.Ritchie Bros. and Euro Auctions are an ideal fit with a united goal to make asset insights, service offerings and disposition solutions easier than ever, said Ann Fandozzi, Ritchie Bros. CEO. . Forward-looking statements are made as of the date of this news release and Ritchie Bros. does not undertake any obligation to update the information contained herein unless required by applicable securities legislation. Euro Auctions has an incredibly talented team, with expertise in asset sourcing, auction operations, sales, and customer service. By signing up you agree to receive content from us. In 2020 the company conducted 60 auctions, selling close to 90,000 items for more than $569 million across its nine locations in the United Kingdom, Northern Ireland, Germany, Spain, the United Arab Emirates, Australia and the United States. Euro Auctions says it conducted 60 unreserved heavy document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Stay up to date on technology, regulations and trucking life. Ritchie Bros. to Acquire Euro Auctions in $1.08B Deal En vous inscrivant la newsletter, vous consentez la rception de contenus de notre part. This represents an implied multiple of ~15.3x 2021E EBITDA (non-GAAP measure), including run rate synergies. We modeled much of what we do off Daves customer-centric philosophy, which still runs through Ritchie Bros. today. Wagner's network in Africa faces uncertain future, Prigozhin's soldiers rage while others cry conspiracy, Cyclone survivors go hungry as junta blocks aid, Trafficked for a kidney and now forced into hiding. No. VANCOUVER, BC, Aug. 8, 2021 /PRNewswire/ - Ritchie Bros., a leading global asset management, disposition, and services company; and Europe's leading plant and machinery auction house, Euro Auctions, have jointly announced that they have entered into an agreement under which Ritchie Bros. will acquire Euro Auctions group for an enterprise value of 775 million (approximately US$1.08 billion). This acquisition significantly accelerates our strategy to drive revenue and earnings growth and add shareholder value by continuing to expand our capabilities in new channels, sectors, regions, and customer segments.. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused. Ritchie Bros These tools and services include a free business inventory management system from RB Asset Solutions, data analytics tools like Market Trends and RB Asset Valuator, financing from Ritchie Bros. Financial Services, as well as shipping, insurance, warranties, refurb, and inspection services. Despite interest, desire, and compelling benefits to customers, we have made the difficult decision to not move forward with the Euro Auctions acquisition. The Company's suite of solutions also includes Ritchie Bros. Asset Solutions and Rouse Services LLC, which together provides a complete end-to-end asset management, data-driven intelligence and performance benchmarking system. We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. Tools and services include a free business inventory management system from RB Asset Solutions, data analytics tools like Market Trends and RB Asset Valuator, financing from Ritchie Bros. Financial Services, as well as shipping, insurance, warranties, refurb and inspection services. In 2020 the company conducted 60 auctions, selling close to 90,000 items for 484+ million across its nine locations in Great Britain, Northern Ireland, Germany, Spain, the United Arab Emirates, Australia, and the United States. Since 1999, the global auctioneer has acquired over ten rival companies and service providers in North America and Europe, which has enabled Ritchie Bros. to offer multichannel platforms and accelerate its transition to an end-to-end Euro Auctions said it would "like to thank all its customers and suppliers and in particular its employees for their continued loyalty and looks forward to a new and exciting future together as an independent company". You also have the option to opt-out of these cookies. Join our newsletter for the latest heavy equipment news, tips, auction alerts and special offers. 2023. Both firms were reported to have offered ways to have addressed such concerns; however, the CMA called for the second review in March. Service Similar to Ritchie Bros., Euro Auctions also sells items through a timed auction format and a daily marketplace with Buy Now and Make Offer options.Ritchie Bros. and Euro Auctions are an ideal fit with a united goal to make asset insights, service offerings and disposition solutions easier than ever, said Ann Fandozzi, Ritchie Bros. CEO. By signing up you agree to receive content from us. Drivers must bring a copy of the Ritchie Bros. Auctioneers release ticket to pick up the item. The foregoing list is not exhaustive of the factors that may affect Ritchie Bros.' forward-looking statements. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused. As a subscriber, you are shown 80% less display advertising when reading our articles. Where is Prigozhin going? If Ritchie Bros. can't deliver clear title on a purchase, the buyer is Their 'can do' attitude and entrepreneurial spirit combined with technology has helped them adapt and grow, in much the same way as we have. , . The combined entity hopes to be able to leverage their proven practices and years of equipment expertise and experience, while providing access to more capital in order to quickly offer robust consignment options for customers, regardless of transaction size. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. Equipment categories: Boom & Scissor Lifts; Generator Sets; Their can do attitude and entrepreneurial spirit combined with technology has helped them adapt and grow, in much the same way as we have. Bidding closes on: 2023-06-27 Tuesday Jun 27, 2023. [emailprotected] Dromore plant and machinery auction house Euro Auctions is to be sold to Ritchie Bros., a global asset management, disposition, and services company for an enterprise value of These adverts enable local businesses to get in front of their target audience the local community. Ritchie Bros The transaction was approved by the Board of Directors of Ritchie Bros. and is expected to close in late 2021 or early 2022, subject to regulatory clearances and the satisfaction of other customary closing conditions. "Ritchie Bros. and Euro Auctions are an ideal fit with a united goal to make asset insights, service offerings and disposition solutions easier than ever," said Ann Fandozzi, Ritchie Bros. CEO. Bringing us together will drive value for customers, as we provide more equipment, solutions, and services to the many industries and regions in which we operate.Ritchie Bros. will be retaining Euro Auctions employees and its brand, both of which are highly regarded in the EMEA region. Bringing us together will drive value for customers, as we provide more equipment, solutions, and services to the many industries and regions in which we operate., RELATED: Top 5 sales from Ritchie Bros $50 million auction. Copyright 2012-2023 VANCOUVER, BC, and WESTCHESTER, Ill. November 7, 2022 - Ritchie Bros. Auctioneers Incorporated (NYSE: RBA) (TSX: RBA), (the "Company or "Ritchie Bros.) and IAA, Inc. (NYSE: IAA), today announced that they have entered into a definitive agreement under which Ritchie Bros. will acquire IAA in a stock and cash transaction valued at Your Company Listed, Submit Share. "While we believe the proposed acquisition would have accelerated our strategy, we remain committed to forging ahead in our transformational journey to become the trusted global marketplace for insights, services and transaction solutions. Directory, Extended Site Analysts and institutional investors may participate via conference call, using the following dial-in information:1-888-664-6392 (toll-free North America)1-416-764-8659 (Toronto & overseas long-distance)Please quote conference ID 70459112 if prompted. Euro Auctions uses a similar system to Ritchie Bros., selling items through a timed auction format and a daily marketplace with immediate purchase and bidding options.