IronPlanet, a leading online marketplace for used heavy equipment, has announced a strategic alliance including a small minority investment with Mascus, an online marketplace for construction equipment, transportation vehicles and trucks, and agricultural, forestry and material handling, equipment headquartered in the Netherlands.
The agreement includes the integration of the two sites with new remarketing services to aid the ease, speed and availability of equipment. Advertisers on Mascus will now be able to quickly and efficiently push items listed on Mascus to IronPlanet for auction, further enhancing equipment disposition and speed to liquidity. In addition, buyers on IronPlanet will have greater access to the entire inventory of listings on Mascus. Sellers of used heavy equipment are increasingly moving from traditional publications and land-based auctions to the global reach and instant access of online marketplaces like IronPlanet and Mascus. Likewise, buyers of equipment turn to the Internet to find the equipment they need at the price they are willing to pay within the quick timeframe they desire. The alliance will provide the transparency of availability, pricing and location not available in printed publications and traditional auctions, IronPlanet said.
“I am excited to be working with Mascus and continuing to pioneer and revolutionize how sellers and buyers connect worldwide to satisfy the disposition and acquisition of used heavy equipment,” said Greg Owens, CEO of IronPlanet. “Our integrated online marketplaces will provide unparalleled remarketing services for our customers.”
“Our alliance with IronPlanet will further enhance the offerings and value that Mascus customers have come to expect from our online marketplace,” said Tim Scholte, CEO of Mascus. “Traditional means for selling and buying used equipment are quickly being displaced through marketplaces like Mascus and IronPlanet. I am confident that the joint value we can provide through our listing services to IronPlanet’s auction and remarketing services will make selling and buying equipment even easier.”
IronPlanet is backed by Accel Partners, Kleiner Perkins Caufield and Byers, Caterpillar, Komatsu and Volvo. Mascus is backed by Vortex Capital Partners.