Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, August 27, 2021

Article Excerpt

RITCHIE BROS. AUCTIONEERS INC., $78.98, symbol RBA on Toronto, is the world’s largest industrial auctioneer. The company sells a broad range of used and unused equipment through its unreserved auctions, online marketplaces and private brokerage services. That merchandise includes earthmoving equipment, truck trailers, government surplus, oil and gas equipment and other industrial assets. Construction and heavy machinery comprise the majority of sales. Customers selling equipment through Ritchie’s sales channels include end users (such as construction companies), equipment dealers, original equipment manufacturers (OEMs) and other equipment owners (such as rental companies). The auctioneer announced on August 8, 2021, that it would pay $1.08 billion U.S. for Euro Auctions, Europe’s leading heavy equipment auction house. That company operates under the Euro Auctions and Yoder & Frey brands. Euro Auctions has more than 200 employees in 14 countries and conducted 60 auctions last year, selling 90,000 items, in the U.K., Northern Ireland, Germany, Spain, the United Arab Emirates, Australia, and the U.S. Euro Auctions should be a..