IronPlanet, a leading online marketplace for selling and buying used equipment and other durable assets, today announced that the U.S. Department of Defense’s Defense Logistics Agency (DLA) has executed its option to extend its Commercial Venture 4-Rolling Stock (CV4-R) contract with IronPlanet. The one-year extension is the first of five available under the CV4-R contract, which was originally awarded to IronPlanet in July 2014 to manage and sell rolling stock surplus assets of the DLA. The extension comes at the two-year anniversary of the contract award.
With IronPlanet, the DLA has experienced faster-time-to-market and realized higher proceeds on its equipment dispositions. The CV4-R contract is a model public-private partnership that has, on average, tripled the return on the DLA’s equipment dispositions, which in turn benefits tax-payers.
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