Business
Ritchie Bros. and SmartEquip team to make equipment parts procurement easier than ever
Ritchie Bros. and SmartEquip team to make equipment parts procurement easier than ever ...
About this update from Rb Global, Inc.
[{"type":"text","content":"\n \n \n \n Ritchie Bros. and SmartEquip team to make equipment parts procurement easier than ever\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n Ritchie Bros\n \n .' acquisition of SmartEquip, which was announced in late September, has now closed\n \n \n \n VANCOUVER, BC\n \n ,\n \n Nov. 2, 2021\n \n /CNW/ -\n \n \n Ritchie Bros\n \n .\n \n (NYSE: RBA) (TSX: RBA) today announced that it has completed its acquisition of SmartEquip, an innovative technology platform that supports customers' management of the equipment lifecycle and integrates parts procurement with both OEMs and dealers.\n \n \n \"This acquisition expands our solution set and furthers our goal of providing the best customer experience as we transition from a traditional auctioneer to a global marketplace for insights, services, and transaction solutions,\" said\n \n Ann Fandozzi\n \n , Chief Executive Officer,\n \n Ritchie Bros\n \n . \"SmartEquip will enable us to offer asset-specific, full-lifecycle parts and service support to customers on behalf of our dealer and OEM partners.\"\n \n \n SmartEquip is a multi-manufacturer platform that provides customers with real-time service and diagnostic support, dynamically customized, via serial number, to each asset in their fleet, as well as enabling the electronic procurement of parts from OEMs and their dealers. The company supports approximately\n \n $1 billion\n \n in annual transaction volume with more than 600 OEM brands, on behalf of fleet locations across\n \n North America\n \n ,\n \n Europe\n \n , and the\n \n Asia Pacific\n \n . SmartEquip has 60 employees and will continue to operate as a standalone business and maintain its physical presence in\n \n Norwalk, CT\n \n for the foreseeable future.\n \n \n \"\n \n Ritchie Bros\n \n . is a perfect partner for us and our team is very excited to take the next growth step together,\" said\n \n Bryan Rich\n \n , SmartEquip's Executive Chairman. \"Through\n \n Ritchie Bros\n \n .' global customer base, this merger will accelerate SmartEquip's ability to suppo...