Upcoming/New CFIUS Filing: Ritchie Bros. Auctioneers Inc. and IronPlanet Inc.

Upcoming/New CFIUS Filing: Ritchie Bros. Auctioneers Inc. and IronPlanet Inc.
Wednesday, December 14, 2016

Status:  Upcoming/New Filing​

Acquirer:  Ritchie Bros. Auctioneers Incorporated (Canada)

Acquired:  IronPlanet Inc. (US)

Value:  Approx. US$758.5 million

Industry:  Equipment Distribution

On August 29, 2016, Ritchie Bros. Auctioneers Inc., a Canadian company, and IronPlanet Inc., a private company based in the United States, announced that they entered into an agreement by which Ritchie Bros. Auctioneers will acquire IronPlanet for approximately US$758.5 million. (See Ritchie Bros. Auctioneers Press Release, Aug. 29, 2106.) “Ritchie Bros. is one of the world’s largest industrial auctioneers and used equipment distributors” and “IronPlanet is a leading online marketplace for selling and buying used equipment and other assets in the United States and internationally.” (Ritchie Bros. Auctioneers Form 8-K, Ex-99.1, Aug. 30, 2016.) The acquisition is subject to several conditions including clearance by the Committee on Foreign Investment in the United States (CFIUS).  (Id.)

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