Ritchie Bros. Acquires Global Listing Service Mascus International
Ritchie Bros. Auctioneers Inc. has acquired Mascus International Holding BV, a leading global online equipment listing service. The acquisition expands the breadth of equipment disposition and management solutions Ritchie Bros. can offer its customers. Mascus operates an online equipment listing service with more than 360,000 items for sale and 3.2 million monthly website visits across 58 countries in 42 languages.
Mascus is a listing service for used heavy machinery and trucks with a large online market presence in Europe for heavy machinery and trucks. It offers subscriptions to equipment dealers, brokers, exporters and equipment manufacturers to list equipment available for sale. Mascus provides online advertising services, business tools and solutions to many of the world’s leading equipment dealerships and equipment manufacturers. Founded in Scandinavia in 2001, with regional headquarters in Tampa, Fla., the company operates in Europe, Asia, Africa and North America.
“This acquisition is another step in Ritchie Bros.’ strategy as the world’s leading multichannel equipment disposition and asset management company as it adds an important new channel,” said Ravi Saligram, Ritchie Bros. CEO.
Ritchie Bros. paid a cash consideration of €24 million (about U.S. $26.6 million) for 100 percent of Mascus’ equity, with additional cash consideration of up to €3.4 million contingent on certain operating performance targets during the next three years.
