Press Release: Ritchie Bros. Auctioneers to acquire AssetNation


VANCOUVER AND HOUSTON, May 9, 2012 /CNW/ – Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world’s largest industrial auctioneer, today announced that it has agreed to acquire AssetNation, Inc., a leading online marketplace and solutions provider for surplus and salvage assets. Ritchie Bros. intends to continue to grow AssetNation’s core business as well as to leverage their e-commerce expertise and technology platform to develop and launch unique new services for equipment owners whose buying and selling preferences may not be met by the Company’s live unreserved auctions.

AssetNation uses its best-in-class technology platform, strong management and employee team, deep e-commerce expertise and family of global online marketplaces to support buyers and sellers of surplus and salvage assets. AssetNation is active in a number of industry verticals including energy, fleet and distribution, insurance and government. AssetNation is a privately-held company headquartered in Houston, TX with offices in Pittsburgh, PA…

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