Ritchie Bros. acquires online equipment listing service Mascus

Canada-based Ritchie Bros. Auctioneers has acquired the online equipment listing service 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 language
February 19, 2016 Read time: 2 mins
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."
Finance & Funding

For more information on companies in this article

Related Content

  • Salini Impregilo expands in the US with purchase of Lane Industries
    November 12, 2015
    Italian global infrastructure group Salini Impregilo has agreed to buy 100% of Lane Industries, an American highways contractor and the “top private asphalt producer” in the US. Lane, a family-owned business based in Cheshire, Connecticut, was bought for US$406 million and has a turnover of around $1.5 billion. The company has three divisions: asphalt production, road projects and other infrastructure projects, in domestic and international markets. A statement from Salini said Lane is participating i
    Read More
  • India's first construction event a huge success
    April 5, 2012
    The first bC India event has exceeded all expectations and it is set to become a regular event. Patrick Smith reports A major new construction equipment show has been launched in a nation with a huge appetite for such machinery and a growth rate nudging 9% each year. With billions being spent on infrastructure (roads and highways, power stations, railways, ports and airports), India was a prime candidate for a trade fair to display the latest and local international construction machinery, building materia
    Read More
  • engcon set up in the Netherlands
    March 22, 2016
    engcon is continuing to expand in Europe and has set up their first office in the Netherlands. The maker of tiltrotators is starting up its own sales company, engcon NL, that will employ a sales manager, a salesperson and another person focusing on servicing and after-sales. The office will be operating by the end of the first quarter this year. "This launch will be an important milestone for engcon and will be the object of considerable focus in future," said Krister Blomgren, chief executive of engcon's p
    Read More
  • The bitumen market is changing globally and products is being transported further
    August 21, 2014
    Political and economic changes around the world are impacting on the way bitumen is supplied and used - Kristina Smith reports on the Argus Europe Bitumen conference in Rome, and highlights some of the new technologies being launched to address these changes Attendees at the Argus Europe Bitumen Conference, held in Rome on 11th and 12th June heard how the global bitumen market is changing. More refineries are expected to close in Europe; the US, with its shale oil, is dominating bitumen supply to some re
    Read More

Highlighted Content