Ritchie Bros Auctioneers $758 million acquisition of IronPlanet

Overview:

• Canadian company Ritchie Bros Auctioneers has acquired US e-commerce site IronPlanet in a $758 million deal.
• IronPlanet specialises in selling used construction machinery.
• The deal is expected to close by the first half of 2017.
• Skadden Arps Slate Meagher & Flom (Margaret Brown, K Kristine Dunn, David Kitchen, Gregg Noel) and Dechert (James Fishkin) advised Ritchie Bros.
• Orrick Herrington & Sutcliffe (Richard Smith, Garret Rasmussen) advised IronPlanet.

Kurt Stumpo - Journalist - North America and the Caribbean