RB Global, Inc. reports developments tied to its omnichannel marketplace for commercial assets and vehicles, including auctions, digital transactions, value-added services and operating results. The company connects buyers and sellers through a global network of auction sites and platforms serving asset classes such as automotive, construction, commercial transportation, government surplus, lifting and material handling, energy, mining and agriculture.
Recurring news for RBA includes Ritchie Bros. auction activity, IAA-related vehicle marketplace updates, gross transaction value and revenue commentary, shareholder meeting results, board and governance matters, dividends and share repurchase actions. Company updates also reference marketplace solutions such as Ritchie Bros., IAA, Rouse Services, SmartEquip and VeriTread.
Nations Capital, Inc. and Ritchie Bros (RBA) announced an agreement to acquire certain assets from DeAngelo Contracting Services (DCS), which include thousands of units of highway and road maintenance equipment deemed excess to DCS's needs. The transaction aims to monetize these assets through bulk private sales and auctions. Ritchie Bros expects strong demand as used equipment prices remain high, facilitating the consolidation of these assets for resale across its various marketplaces.
On December 21, 2021, Ritchie Bros. conducted its largest-ever auction in Chehalis, WA, attracting 9,950 bidders from 58 countries and generating over $41 million in gross transaction value. The auction featured more than 2,600 items sold, with 95% acquired by U.S. buyers, including a significant portion from Washington State. The event marked a 27% increase in participation year-over-year. Ritchie Bros. reported strong pricing across transportation and excavation equipment, indicating a robust seller's market. The next Chehalis auction is scheduled for March 2022.
Ritchie Bros. achieved a record-breaking CA$44+ million gross transaction value at its December auction in Toronto, attracting over 8,500 online bidders from 65 countries. The auction featured more than 3,400 items, with 84% purchased by Canadian buyers. The company noted a 108% increase in watchlisted items year-over-year and a 13% rise in online equipment pageviews. Additionally, Ritchie Bros. has established a new satellite yard in Thunder Bay, enhancing its visibility and service in Ontario. The company plans future events including a Timed Auction on February 8, 2022.
Ritchie Bros. conducted a successful online auction in Fort Worth, attracting over 12,400 bidders from 60+ countries, generating a Gross Transaction Value (GTV) of US$58+ million. The auction, held from December 7-9, featured over 4,000 items, with 93% sold to U.S. buyers. Used equipment prices remain strong, reflecting robust demand in construction and transportation sectors. Ritchie Bros. had five successful online auctions in 2021, yielding over US$315 million in sales.
Ritchie Bros. concluded its 2021 Edmonton auction series, achieving a gross transaction value of CA$53+ million (US$42+ million) from 4,400+ sold items. Over the year, the company sold more than 47,000 items totaling CA$517+ million. The December auction attracted 12,500+ bidders, with 93% of purchases made by Canadian buyers, and notable high-value items included a 2018 Tigercat feller buncher sold for CA$460,000. Demand remains strong, and several upcoming auctions are scheduled, including a Montreal auction with close to 3,000 items.
Ritchie Bros Auctioneers announced that it has priced its senior notes offering totaling US$600 million and C$425 million to fund the acquisition of Euro Auctions and other companies. The 4.750% USD notes will mature on December 15, 2031, and the 4.950% CAD notes will mature on December 15, 2029. The closing is anticipated on December 21, 2021. The offering will provide funds to address acquisition considerations and related fees, with proceeds held in escrow until the acquisition is finalized.
Ritchie Bros Auctioneers (NYSE: RBA, TSX: RBA) announced an offering of approximately $935 million in senior notes. This includes US dollar-denominated notes due 2031 and Canadian dollar-denominated notes due 2029, aimed to fund the recent acquisition of Euro Auctions and other related companies. The proceeds will be held in escrow until transaction completion. The offering is directed at qualified institutional buyers and complies with regulatory exemptions. Ritchie Bros focuses on asset management across various sectors, with an emphasis on leveraging synergies from the acquisition.
Ritchie Bros held a successful auction from December 1-2, selling over 3,800 items from seven locations, attracting more than 11,000 bidders from 56 countries and generating over US$50 million in gross transaction value. About 96% of items were purchased by U.S. buyers, with Colorado, Texas, and Utah being the top states. The auction showcased significant items like a 2015 Caterpillar 627K motor scraper that sold for US$500,000. Ritchie Bros plans to hold additional auctions, including over 60,000 items in upcoming sales.
Ritchie Bros. conducted a successful online auction from November 22-24, 2021, in Grande Prairie, AB, attracting over 10,000 bidders from 47 countries. The event sold more than 2,700 items, achieving a gross transaction value exceeding CA$51 million (US$41 million). Approximately 96% of the equipment was sold to Canadian buyers, with 49% going to Albertans. The auction featured a variety of assets, including trucks and forestry equipment. Ritchie Bros. continues to offer multiple online auction options and has upcoming events in various Canadian locations.
Ritchie Bros. has scheduled two major farm auctions in 2022, selling over 15,000 acres of farmland and 300+ equipment items. The sales include 9,681 acres in Torquay, SK, on January 25-26, and 6,091 acres in The Pas, MB, on March 15. Equipment highlights feature top brands like John Deere and Versatile. The auctions present opportunities for farmers and investors, with all items sold unreserved to the highest bidder. Ritchie Bros. aims to attract interest by emphasizing the quality of the land and equipment being offered.