Profile: Ritchie Bros. Auctioneers Inc (RBA.TO)
23 Sep 2019
Ritchie Bros. Auctioneers Incorporated (Ritchie Bros.), incorporated on December 12, 1997, is a holding company. The Company is an industrial auctioneer and used equipment distributor, selling used equipment and other assets. The Company's segments include Core Auction, which is a network of auction locations that conduct live, unreserved auctions with both on-site and online bidding, and Other, which includes the Company's EquipmentOne and Mascus International Holding B.V. (Mascus) online services. EquipmentOne is an online marketplace that equipment sellers can navigate independently. EquipmentOne facilitates the completion of sales through a settlement process managed by EquipmentOne that protects both the seller and the buyer. Mascus is an online equipment listing service for used heavy machinery and trucks. Mascus offers subscriptions to equipment dealers, brokers, exporters and equipment manufacturers to list equipment available for sale at a listed price. The Company, through Mascus, provides online advertising services, business tools and solutions to various equipment dealerships and equipment manufacturers. The Company sells industrial equipment and other assets for the construction, agricultural, transportation, energy, mining, forestry, material handling, marine and real estate industries at its unreserved auctions and online marketplaces.
The Company, through its unreserved auctions, online marketplaces and private brokerage services, sells a range of used and unused equipment, including trucks and other assets. Construction and heavy machinery consist of the equipment sold through its multiple brand solutions. Customers selling equipment through its sales channels include end users (such as construction companies), equipment dealers and other equipment owners (such as rental companies). Its customers participate in a range of sectors, including heavy construction, transportation, agriculture, energy and mining. In addition to the multiple sales channels it offers customers, it also offers various support services to facilitate equipment transactions and auction services, including Ritchie Bros. Financial Services (RBFS), Xcira LLC (Xcira), Equipment Refurbishment and Ritchie Bros. Logistical Services (RBLS).
RBFS originates loans for equipment buyers in the United States and Canada, including Ritchie Bros. auctions and other sales formats. This business acts as a loan originator through a brokerage model, matching loan applicants with financial lending institutions. Xcira provides online auction simulcast technology. Xcira also licenses its technology solutions and platforms to other (non-industrial) auction companies. Through Ritchie Bros.' network of refurbishment facilities, located at permanent auction sites, equipment sellers and buyers can choose to have equipment repaired and/or repainted. RBLS offers transportation and customs clearance solutions for equipment sellers and buyers with shipping needs. Ritchie Bros. oversees the transport process, through the use of selected shipping service providers. As of December 31, 2016, the Company had operated around the world with locations in more than 15 countries, including the United States, Canada, Australia, the United Arab Emirates and the Netherlands.
Ritchie Bros. Auctioneers Inc
300-9500 Glenlyon Pky
BURNABY BC V5J 0C6