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Ritchie Bros. Auctioneers to acquire auction business and assets of Martella Auction Company

Posted on: Thu, 19 Nov 2009 14:12:00 EST

Symbols: RBA

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Nov 19, 2009 (Datamonitor Financial Deals Tracker via COMTEX) --
RBA | Quote | Chart | News | PowerRating -- Ritchie Bros. Auctioneers Incorporated has entered into an agreement to acquire the auction business and certain assets of Martella Auction Company, Inc., an auctioneer of agricultural and industrial equipment. Both the companies are based in the US.

Ritchie Bros is an auctioneer of industrial equipments.

The acquisition is expected to close by December 21, 2009.

Deal Type    Acquisition
Sub-Category Asset Purchase
Deal Status  Announced: 2009-11-19

Deal Participants

Target (Company)   Martella Auction Company - Auction Business and Assets
Acquirer (Company) Ritchie Bros. Auctioneers Incorporated
Vendor (Company)   Martella Auction Company

Deal Rationale

The acquisition will expand and strengthen Ritchie Bros.' presence in the used agricultural and industrial equipment markets in California, US, and establishes an additional auction site in a proven auction market.

For full details on Ritchie Bros Auctioneers (RBA) RBA. Ritchie Bros Auctioneers (RBA) has Short Term PowerRatings at TradingMarkets. Details on Ritchie Bros Auctioneers (RBA) Short Term PowerRatings is available at This Link.

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