19.02.2016

Ritchie Bros acquires Mascus

Auctioneer Ritchie Bros has acquired online equipment listing service Mascus International Holding.

Mascus claims to have the largest online market presence in Europe for heavy machinery and trucks with more than 360,000 items for sale and 3.2 million monthly website visits across 58 countries and in 42 languages.

Ritchie Bros paid €24 million in cash for Mascus' entire share capital. An additional cash consideration of up to €3.4 million, may be paid if operating performance targets are achieved over the next three years. Based in Amsterdam, Mascus will continue to operate under its current branding and existing management team.

Ritchie chief executive Ravi Saligram said: "This acquisition is another step in our strategy as the world’s leading equipment disposition and asset management company as it adds an important new channel. As one of the world’s leading equipment listing services, Mascus has carved out a well established and loyal customer base and has developed strong business tools and solutions that many equipment dealers and brokers now rely on to manage and sell their assets".

Mascus chief executive Tim Scholte added: “We look forward to working within the broader Ritchie Bros team,and leveraging their global used equipment sales expertise to further build our customer relationships and platform.

Founded in Scandinavia in 2001, Mascus has grown rapidly over the last 15 years and now includes operations across Europe, Asia, Africa and North America.