Caterpillar partners with industrial auctioneer company

By |  August 31, 2016

cat_logoRitchie Bros., an industrial auctioneer and equipment distributor, entered into a strategic alliance agreement with Caterpillar Inc. Under the terms of the agreement, Ritchie Bros. will become Caterpillar’s preferred partner for live onsite and online auctions for used Caterpillar equipment.

According to Ritchie Bros., the company will provide Caterpillar access to proprietary auction platforms, software and value-added services. The alliance is also expected to help improve Ritchie Bros.’ relationship with Caterpillar’s independent dealers by providing them with access to a global auction marketplace to sell their used equipment.

“Ritchie Bros. and Caterpillar are beginning an exciting new chapter in our relationship to better serve our global customers,” says Rob Charter, Caterpillar’s group president with responsibility for the company’s customer and dealer support. “This alliance will ensure that more used equipment buyers have access to our best-in-class products, digital offerings and world-class customer support through the Cat dealer network.”

In addition, Ritchie Bros. recently acquired IronPlanet, an online marketplace for used heavy equipment and other durable asset sales. The combined company will deliver a multi-channel marketplace that will offer a range of equipment asset management and disposition solutions. According to Ritchie Bros., Caterpillar and its dealers own a minority position in this acquisition as a result of the new alliance.

The alliance between Ritchie Bros. and Caterpillar will have an initial five-year term, Ritchie Bros. says. After completing the acquisition of IronPlanet, Ritchie Bros. will operate live onsite auctions at participating Caterpillar dealer locations under the Cat Auction Services brand. This also will encompass Ritchie Bros.’ other onsite and online brands.

About the Author:

Megan Smalley is the associate editor of Pit & Quarry. Contact her at or 216-363-7930.

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