IronPlanet CEO is a finalist for Entrepreneur Of The Year Award in Northern California
EY today announced that Gregory J. Owens, IronPlanet® Chairman and CEO, is a finalist for the Entrepreneur Of The Year® 2017 Award in Northern California. The awards program, which is celebrating its 31st year, recognizes entrepreneurs who are excelling in areas such as innovation, financial performance and personal commitment to their businesses and communities. Owens was selected as a finalist by a panel of independent judges. Award winners will be announced at a special gala event on June 23rd at The Fairmont in San Jose, California.
Online used-equipment marketplace IronPlanet broke records with its 23 September auction events with more than $99 million in sales on 9,890 items.
“September, 2016 was a record-breaking month, for the number of auctions that we held, the total number of bidders and buyers, as well as the total gross merchandise volume of over $99 million,” said Gregory Owens, IronPlanet chairman and CEO. “This is no doubt that we were able to achieve these stellar results due to our advanced data-drive technology platform, the power of our multiple online marketplaces, robust on-site auction events and the global reach of our more than 1.5 million registered users worldwide.”
VANCOUVER and PLEASANTON, CA, August 29, 2016 – Ritchie Bros. Auctioneers Incorporated, the world’s largest industrial auctioneer and a leading equipment distributor (NYSE & TSX: RBA, “Ritchie Bros.”), and IronPlanet®, a leading online marketplace for used heavy equipment and other durable asset sales, today jointly announced that they have entered into an agreement under which Ritchie Bros. will acquire IronPlanet for approximately US$758.5 million, subject to customary closing adjustments.
Founded in 1999, IronPlanet complements Ritchie Bros.’ primarily end-user customer base, as it focuses largely on the needs of corporate accounts, equipment manufacturers, dealers and government entities in equipment disposition solutions. It conducts its sales primarily through online-only platforms, with weekly online auctions and in other equipment marketplaces. IronPlanet, a private company based in the United States, sold approximately US$787 million of Gross Merchandise Value (GMV) through their sales channels during 2015, and has achieved a 25.2% compounded growth rate in assets sold from 2013 through 2015. This growth momentum has continued, with a 41% increase in GMV during the first half of 2016 relative to the same period in 2015.
Check out some interesting global headlines around the construction and heavy equipment industry during the first part of July.
"The global mining equipment market is expected to garner $156 billion by 2022, increasing at a compound annual growth rate (CAGR) of 7.9% during 2016 – 2022, a new report published by Allied Market Research shows. According to the study, titled “World Mining Equipment Market – Opportunities and Forecasts, 2015 – 2022”, the Asia–Pacific region accounted for the highest revenue of over $50 billion in 2015, followed by Latin America, the Middle East and Africa (LAMEA)." Read more
Check out some interesting global headlines around the construction and heavy equipment industry as we close out the month of June.
"As the auctioneer's megaphone faded off in the distance, Cody Baker and Matthew Boykin had wandered far out to the edge of a 130-acre gravel lot to check out a row of man-lifts, the crawlers with big arms that elevate workers to high places. They hoisted hoods in the hot sun, poked at wiring, peered underneath to check for oil leaks, trying to find a few worth taking back to Midland to put to work in the oil fields." Read more
"Strong gains reported for public works, power plants, and multifamily housing." Read more
Check out some interesting global headlines around the construction and heavy equipment industry from the past two weeks.
"The hosts at autoblog.com recently got the chance to check off an item off of their list of 1,000 Car Things to Do Before You Die, and that is to drive heavy equipment at Dig This, the Las Vegas Construction Equipment sandbox where “everyone from 8-108 can play.” Read more
"There have been a lot of depressing headlines for the Milwaukee-area mining equipment manufacturing operations of Joy Global Inc. and Caterpillar Inc. over the past year. Milwaukee-based Joy posted a $1.2 billion loss last year, closed its Orchard Street plant, laid off the workers in its heavy fabrication and welding departments in September, and then closed those departments in May." Read more