Five-day Edmonton,
AB, auction attracted 21,000+ bidders from 43 countries to
compete for a record 14,500+ items
WESTCHESTER, Ill. and EDMONTON, AB, May 7, 2024
/PRNewswire/ - RB Global, Inc. (NYSE: RBA) (TSX: RBA), a trusted
global marketplace for insights, services and transaction solutions
for commercial assets and vehicles, today announced that
Ritchie Bros. Auctioneers sold
14,500+ equipment items, trucks and vehicles at its premier
Canada auction event in
Edmonton, AB, last week. The
five-day auction generated nearly CA$250 million in gross
transaction value (GTV) – a new Canadian record.
The April 29 – May 3, 2024, online and onsite auction attracted
more than 21,000 bidders from 43 countries, with approximately
94.2% of the equipment selling to Canadians, including 63.3%
purchased by Albertans. The remaining 5.8% of the equipment was
purchased by international buyers from as far away as Saudi Arabia, Italy and the
Netherlands.
"Our April-May Edmonton event once again delivered a huge
selection of equipment, including lots of late-model, low-hour gear
coming off recently completed jobs and ready to go to work for new
owners in the next season," said Jeff
Jeter, Chief Revenue Officer for RB Global. "Ritchie Bros. continues to prove that we are the
leading destination for buying and selling heavy equipment and
transportation assets globally, with over 21,000 bidders who were
active onsite, online and through our mobile app throughout the
auction. We would like to thank our record number of more than
1,600 consignors for once again choosing Ritchie Bros. to deliver the results that they
count on us to deliver.
"We also extend a huge thank you to our generous and
community-minded customers, who have again bid on our VIP Parking
stalls in support of the Make-A-Wish Foundation. Four
companies have helped to raise $42,000 this year. Over the last seven years our
customers have helped to raise $200,000 for children with critical illnesses,"
Jeter said.
Ritchie Bros. has more than
110,000 equipment items and trucks in its upcoming auctions and
online marketplaces, including 5,400+ items selling in an
Ontario Regional Event on May 8–10; 4,000+ items selling in
Montreal, QC, May 15–17; 1,700
items selling in Lethbridge, AB,
on May 16; and 2,400+ items selling
in a BC Regional Event May 29–30. For a complete list of upcoming
auctions and events, including weekly IronPlanet auctions and
Marketplace-E events, visit rbauction.com/auctions.
About RB Global
RB Global, Inc. (NYSE: RBA) (TSX: RBA) is a leading, omnichannel
marketplace that provides value-added insights, services and
transaction solutions for buyers and sellers of commercial assets
and vehicles worldwide. Through its auction sites in 14 countries
and digital platform, RB Global serves customers in more than 170
countries across a variety of asset classes, including automotive,
commercial transportation, construction, government surplus,
lifting and material handling, energy, mining and agriculture. The
company's marketplace brands include Ritchie Bros., the world's largest auctioneer of
commercial assets and vehicles offering online bidding,
and IAA, a leading global digital marketplace connecting
vehicle buyers and sellers. RB Global's portfolio of brands also
includes Rouse Services, which provides a complete end-to-end
asset management, data-driven intelligence and performance
benchmarking system; SmartEquip, an innovative technology
platform that supports customers' management of the equipment
lifecycle and integrates parts procurement with both OEMs and
dealers; Xcira, a leader in live simulcast auction
technologies; and VeriTread, an online marketplace for heavy
haul transport.
Forward-Looking Statements
Certain statements contained in this release include
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933 (the "Securities Act") and Section 21E
of the Securities Exchange Act of 1934 (the "Exchange Act") and
Canadian securities laws. Forward-looking statements are typically
identified by such words as "aim", "anticipate", "believe",
"could", "continue", "estimate", "expect", "intend", "may",
"ongoing", "plan", "potential", "predict", "will", "anticipates",
"should", "would", "could", "likely", "generally", "future",
"long-term", "foresees", "estimates", "opportunity" or the negative
of these terms, and similar expressions intended to identify
forward-looking statements. Forward-looking statements are based on
current expectations and assumptions that are subject to risks and
uncertainties that may cause actual results to differ materially.
These statements are based on our current expectations and
estimates about our business and markets, and may include, among
others, statements relating to the April-May Edmonton Auction and
other subjects of this release, our future strategy, objectives,
targets, projections and performance and other statements that are
not historical facts. It is uncertain whether any of the events
anticipated by the forward-looking statements will transpire or
occur, or if any of them do, what impact they will have on the
results of operations and financial condition of the combined
companies or the price of RB Global's common shares. Therefore, you
should not place undue reliance on any such statements, and caution
must be exercised in relying on forward-looking statements. While
RB Global's management believes the assumptions underlying these
forward-looking statements are reasonable, these forward-looking
statements involve certain risks and uncertainties, many of which
are beyond RB Global's control, that could cause actual results to
differ materially from those indicated in such forward-looking
statements, including but not limited to: our results of
operations, strategy and plans; potential adverse reactions or
changes to our business or employee relationships; our ability to
integrate acquisitions (including IAA, Inc. ), the diversion of
management time on transaction-related issues; the ability of RB
Global to retain and hire key personnel and employees; the
significant costs associated with the merger; the outcome of any
legal proceedings that could be instituted against RB Global;
changes in capital markets and the ability of the company to
generate cash flow and/or finance operations in the manner expected
or to de-lever in the timeframe expected; the failure of RB
Global to meet financial forecasts and/or KPI targets; legislative,
regulatory and economic developments affecting the business of RB
Global; general economic and market developments and conditions;
the evolving legal, regulatory and tax regimes under which RB
Global operates; unpredictability and severity of catastrophic
events, including, but not limited to, pandemics, acts of terrorism
or outbreak of war or hostilities, as well as RB Global's response
to any of the aforementioned factors. Other risks that could cause
actual results to differ materially from those described in the
forward-looking statements are included in RB Global's
periodic reports and other filings with the Securities and Exchange
Commission ("SEC") and/or applicable Canadian securities regulatory
authorities, including the risk factors identified under Part I,
Item 1A "Risk Factors" in RB Global's most recent Annual
Report on Form 10-K for the year ended December 31, 2023. The forward-looking statements
included in this release are made only as of the date hereof. While
the list of factors presented here is considered representative, no
such list should be considered to be a complete statement of all
potential risks and uncertainties. Many of these risk factors are
outside of our control, and as such, they involve risks which are
not currently known that could cause actual results to differ
materially from those discussed or implied herein. RB Global does
not undertake any obligation to update any forward-looking
statements to reflect actual results, new information, future
events, changes in its expectations or other circumstances that
exist after the date as of which the forward-looking statements
were made, except as required by law.
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SOURCE RB Global