Status:  Clearance

Acquirer:  Ritchie Bros. Auctioneers Incorporated (Canada)

Acquired:  IronPlanet Inc. (US)

Value:  Approx. US$758.5 million

Industry: e-Commerce; Heavy Machinery

UPDATE:  On May 31, 2017, Ritchie Bros. announced that it had “completed its acquisition of IronPlanet®, a leading online marketplace for heavy equipment and other durable assets. Ritchie Bros. acquired IronPlanet for approximately $758.5 million, subject to customary closing adjustments.”  (Press Release, Ritchie Bros. Completes Its Acquisition of IronPlanet, Growing Digital Presence and Offering Unprecedented Choice to Customers, May 31, 2017.)  According to the terms of the acquisition, CFIUS clearance was a condition of closing. (Ritchie Bros. Auctioneers Form 8-K, Ex-99.1, Aug. 30, 2016.)

Posted December 13, 2016

Status: Upcoming/New Filing

On August 29, 2016, Ritchie Bros. Auctioneers Inc., a Canadian company, and IronPlanet Inc., a private company based in the United States,  announced that they entered into an agreement by which Ritchie Bros. Auctioneers will acquire IronPlanet for approximately US$758.5 million.  (See Ritchie Bros. Auctioneers Press Release, Aug. 29, 2106.)  “Ritchie Bros. is one of the world’s largest industrial auctioneers and used equipment distributors” and  “IronPlanet is a leading online marketplace for selling and buying used equipment and other assets in the United States and internationally.”  (Ritchie Bros. Auctioneers Form 8-K, Ex-99.1, Aug. 30, 2016.)  The acquisition is subject to several conditions including  clearance by the Committee on Foreign Investment in the United States (CFIUS).  (Id.)