Ritchie Bros acquires Rouse Services
Ritchie Bros. is to acquire market intelligence and data provider Rouse Services for $275 million – made up of $250 million in cash and $25 million of Ritchie Bros stock. Rouse is based in Los Angeles with around 60 employees.
Ritchie Bros chief executive Ann Fandozzi said: "Rouse offers a highly complementary suite of data and service products that will continue and accelerate our evolution from an auction company to a global, trusted marketplace and provider of services. Rouse brings a strong reputation within the industrial equipment industry for their data integrity, reliability, and strict confidentiality, and we look forward to continuing to build on these core values in the next chapter of their growth. By working together, we will be able to help customers better understand used equipment trends and how to use them to optimize fleet management decisions. Bringing Rouse into the Ritchie Bros. family of solutions increases connectivity and deepens our already strong relationships with fleet owners and asset-backed lenders."
"Data and analytics are fundamental building blocks to deliver great customer experiences in today's world. Combining our unique perspectives will enable us to build new and innovative ways to serve our customers. We look forward to welcoming all the employees of Rouse Services into the Ritchie Bros. family. Together we are stronger and will accomplish even greater things!"
Rouse Services chief operating officer Gary McArdle added: "I am personally very excited to join the Ritchie Bros. executive team. We have spent decades building our reputation as a trusted partner in the industrial equipment industry. Opportunities to better serve our clients have always directed our growth, and by joining with Ritchie Bros., we see tremendous potential to build on our foundation and deliver even more value to our industry partners."