PLEASANTON, Calif. and EAGAN, Minn. – March 31, 2015 – IronPlanet, the leading online marketplace for buying and selling used heavy equipment and trucks, sold $46.7 million in equipment at auctions held across its marketplaces March 25th – 27th. In addition to auctions held on IronPlanet’s online marketplaces, onsite events included a joint live unreserved public auction with Cat Auction Services in Des Moines, Iowa, and a two-day auction by Kruse Energy & Equipment Auctioneers held in Oklahoma City, Oklahoma.
More than 24,000 people attended the auctions online and onsite and a total of 3,530 items were sold for $46.7 million in gross merchandise value (GMV).
“We ended the quarter with a strong week of auctions that sold more than $46 million in equipment,” said Gregory J. Owens, IronPlanet Chairman and CEO. “I am very excited with the momentum that we have in the market and the value we are delivering to our customers across the construction, transportation, government, and oil and gas sectors.
“In addition to a very successful joint auction with Cat Auction Services where we saw strong price performance, the Kruse Energy and Equipment Auctioneers sale in Oklahoma City was one of its largest auctions ever. Last week demonstrated how the power of reaching our more than 1.3 million global registered users with the best data driven platforms, online and onsite, resulted in great value for our buyers and sellers from around the world.”
The joint IronPlanet and Cat Auction Services auction hosted by Ziegler Cat sold $9 million in GMV and drove strong price performance as a result of both onsite and online end-user participation.
“Our auction in Des Moines featured a large selection of the highest quality equipment the Cat family of dealers has to offer, and bidders responded by showing up in record numbers,” said William L. Hoeft, Chairman of Cat Auction Services. “Together with IronPlanet we had one of our most successful events ever. It just underscores the true power and value of the industry’s most comprehensive online and onsite marketplaces working together.”
Highlights from Auctions across IronPlanet Marketplaces
Last week IronPlanet held auctions across all of its marketplaces: IronPlanet, in North America and Europe, TruckPlanet, GovPlanet, and Kruse Energy & Equipment Auctioneers.
• In North America, IronPlanet’s auction included a job completion sale for Morgan Corp., a leader in commercial and industrial site development for over 70 years, who sold a package of 55 units with 11 Volvo A40E articulated dump trucks.
• In Europe, IronPlanet’s end-of-quarter sale drew more than 2,800 attendees from Europe, Asia, the Middle East and the Americas, with strong performance on packages from Loxam and Vinci.
• Kruse Energy and Equipment sold 17 rigs and surplus oilfield equipment over its two day sale in Oklahoma City.
• IronPlanet’s GovPlanet marketplace sold more than 300 items, including 50 military Humvees and four Oshkosh M1070HET trucks.
IronPlanet and Associated Auction Services LLC, an alliance of Caterpillar and several of its independent Cat® dealers, that operates under the name of Cat Auction Services (“Cat Auction Services”) announced on December 19, 2014, that they had signed an agreement to merge. The transaction is subject to regulatory approval and other standard closing conditions, and is anticipated to be completed during the first quarter of 2015. The transaction is not subject to the Federal premerger waiting period. The Des Moines joint auction was conducted pursuant to a joint venture agreement, which is independent of the proposed merger.
About IronPlanet
IronPlanet is the leading online marketplace for used heavy equipment and an innovative participant in the multi-billion dollar heavy equipment auction market. Since 2000, IronPlanet has sold over $4 billion of used equipment online and has built a database of more than 1.3 million registered users worldwide. IronPlanet connects buyers and sellers of used equipment with its exclusive IronClad Assurance® buyer protection program and family of sites including IronPlanet®, GovPlanet®, TruckPlanet®, Kruse® Energy and Equipment Auctioneers, allEquipSM and Asset Appraisal ServicesSM. IronPlanet is backed by Accel Partners, Kleiner Perkins Caufield & Byers, Caterpillar, Komatsu and Volvo. For more information, visit www.ironplanet.com.
About Cat Auction Services
Cat Auction Services was formed in 2008, and now has Caterpillar Inc., and a large number of its North American dealers as its unit holders. Cat Auction Services facilitates auctions through live events and online bidding. Cat Auction Services has raised the bar in heavy equipment auctions, giving customers a better experience with its innovative LEADERBOARD®, professional staff, comprehensive photos and videos, equipment protection plans and equipment financing. For more information, visit www.catauctions.com.
No Offer or Solicitation
This announcement is for informational purposes only and is neither an offer to purchase, nor a solicitation of an offer to sell, subscribe for or buy any securities or the solicitation of any vote in any jurisdiction pursuant to the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law.
