M&A Deal Summary

Ritchie Bros Acquires SmartEquip

On September 27, 2021, Ritchie Bros acquired software company SmartEquip for 175M USD

Acquisition Highlights
  • This is Ritchie Bros’ 1st transaction in the Software sector.
  • This is Ritchie Bros’ 3rd largest (disclosed) transaction.
  • This is Ritchie Bros’ 8th transaction in the United States.
  • This is Ritchie Bros’ 2nd transaction in Connecticut.

M&A Deal Summary
Date 2021-09-27
Target SmartEquip
Sector Software
Buyer(s) Ritchie Bros
Deal Type Add-on Acquisition
Deal Value 175M USD
Advisor(s) Houlihan Lokey (Financial)
Robinson & Cole (Legal)

Target

SmartEquip

Norwalk, Connecticut, United States
SmartEquip is a multi-manufacturer platform that provides customers with real-time service and diagnostic support, dynamically customized, via serial number, to each asset in their fleet, as well as enabling the electronic procurement of parts from OEMs and their dealers. SmartEquip is based in Norwalk, Connecticut.

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Buyer(S) 1

Buyer

Ritchie Bros

Burnaby, British Columbia, Canada
Category Company
Founded 1958
Sector Business Services
Employees2,600
Revenue 3.7B USD (2023)
DESCRIPTION

Ritchie Bros is an auctioneer of heavy equipment and trucks. Ritchie Bros was founded in 1958 and is based in Burnaby, Canada.

DEAL STATS #
Overall 11 of 13
Sector (Software) 1 of 1
Type (Add-on Acquisition) 10 of 12
State (Connecticut) 2 of 2
Country (United States) 8 of 10
Year (2021) 2 of 2
Size (of disclosed) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-08 Euro Auctions

Dromore, Ireland

Euro Auctions conducts unreserved heavy equipment auctions with onsite and online bidding under the brands Euro Auctions and Yoder & Frey. In 2020, the company conducted 60 auctions, selling close to 90,000 items for £484+ million across its nine locations in the United Kingdom, Northern Ireland, Germany, Spain, the United Arab Emirates, Australia, and the United States. It also sells items through a timed auction format and a daily marketplace with Buy Now and Make Offer options. Euro Auctions was formed in 1998 and is based in Dromore, Ireland.

Buy £775M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-09 VeriTread

Lakeland, Florida, United States

VeriTread provides an online transportation marketplace that connects construction equipment owners with transportation service providers. VT enhances its products by providing a suite of innovative decision tools, enabling customers to make smarter, more effective arrangement of heavy-haul transportation. VeriTread was founded in 2013 and is based in Lakeland, Florida.

Buy -
Mergr

Product

Company

Legal