Ritchie Bros., the world's largest heavy equipment auctioneer and provider of end-to-end services, this week announced that it has completed its acquisition of Rouse Services, a leading provider of data intelligence and performance benchmarking solutions. By working together, Ritchie Bros. and Rouse will enhance the data analytics and service offerings available to its customers.
"Like Ritchie Bros., Rouse has spent decades building its reputation as a trusted partner in the industrial equipment industry," said Ann Fandozzi, CEO, Ritchie Bros. "Rouse offers a complementary tool kit to what we offer at Ritchie Bros. today. Together, we believe we can accelerate both of our growth efforts by providing customers more robust data, better service, and innovative solutions to help their businesses run more efficiently. At Ritchie Bros. today, we are more than auctions."
Beyond data and analytics, Rouse Services also offers highly rated equipment sales support and fleet appraisals. Both these services will continue under Ritchie Bros., the company said, and Rouse will maintain its physical presence in Los Angeles for the foreseeable future.
"Both of our brands have been built around integrity and professionalism and we are so excited to bring Rouse's solutions to our customers around the world," added Fandozzi. "With Rouse as part of the Ritchie Bros. family of solutions we increase connectivity and deepen our already strong relationships with fleet owners and asset-backed lenders. Together we are stronger and will accomplish even greater things for our customers!"
RBC Capital Markets served as financial advisor to Ritchie Bros. and Dorsey & Whitney LLP and Dechert LLP served as legal advisors. Silvermark Partners LLC served as financial advisor to Rouse Services and Manatt, Phelps & Phillips, LLP served as legal advisor.
