Canada-based 8031 Ritchie Bros. Auctioneers has acquired the online equipment listing service 7588 Mascus International Holding for US$26.6 million in cash.
The deal gives Ritchie Bros. 100% of the equity in Mascus, subject to working capital adjustments under the terms of the share purchase agreement. Mascus will continue to operate under its branding and management team.
The company lists more than 360,000 items for sale and gets around 3.2 million monthly website visits across 58 countries and in 42 languages.
Ritchie Bros said Mascus provides Europe’s largest lists of heavy machinery and trucks. It also offers subscriptions to equipment dealers, brokers, exporters and equipment manufacturers that wish to list equipment for sale.
Apart from construction machinery, it lists farm and forestry equipment, material handling and grounds-care equipment and transportation vehicles. Product ranges include tractors, trailers, trucks, diggers, box trailers, mini diggers and excavators.
The company is based in Amsterdam and has operations across Europe, Asia, Africa and North America.
"The acquisition is another step in Ritchie Bros. strategy as the world's leading multichannel equipment disposition and asset management company as it adds an important new channel," said Ravi Saligram, chief executive of Ritchie Bros.
"We look forward to working within the broader Ritchie Bros. team, and leveraging their global used equipment sales expertise to further build our customer relationships and platform," said Tim Scholte, chief executive of Mascus.
"Mascus will continue to build on its strong business model of online equipment listing services focusing on the needs of all advertisers."
The deal gives Ritchie Bros. 100% of the equity in Mascus, subject to working capital adjustments under the terms of the share purchase agreement. Mascus will continue to operate under its branding and management team.
The company lists more than 360,000 items for sale and gets around 3.2 million monthly website visits across 58 countries and in 42 languages.
Ritchie Bros said Mascus provides Europe’s largest lists of heavy machinery and trucks. It also offers subscriptions to equipment dealers, brokers, exporters and equipment manufacturers that wish to list equipment for sale.
Apart from construction machinery, it lists farm and forestry equipment, material handling and grounds-care equipment and transportation vehicles. Product ranges include tractors, trailers, trucks, diggers, box trailers, mini diggers and excavators.
The company is based in Amsterdam and has operations across Europe, Asia, Africa and North America.
"The acquisition is another step in Ritchie Bros. strategy as the world's leading multichannel equipment disposition and asset management company as it adds an important new channel," said Ravi Saligram, chief executive of Ritchie Bros.
"We look forward to working within the broader Ritchie Bros. team, and leveraging their global used equipment sales expertise to further build our customer relationships and platform," said Tim Scholte, chief executive of Mascus.
"Mascus will continue to build on its strong business model of online equipment listing services focusing on the needs of all advertisers."
