# Ritchie Bros. acquires SmartEquip for $175 million

Ritchie Bros. Auctioneers has entered into a definitive agreement to acquire SmartEquip, a multi-manufacturer platform for equipment service lifecycle management and parts procurement, for approximately $175 million.

- Type: Acquisition
- Announced: 2021-09-29
- Where: United States
- Value: $175.0M
- Status: announced
- Products: equipment service lifecycle management platform, parts procurement platform
- Sectors: [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md)

## Companies

- [Ritchie Bros. Auctioneers](https://endata.com/companies/24836.md) (acquirer)
- [SmartEquip](https://endata.com/companies/58021.md) (target)

## Sources

- [forconstructionpros.com](https://www.forconstructionpros.com/rental/press-release/21747393/smartequip-ritchie-bros-acquires-smartequip), 2021-09-29: "This acquisition furthers our goal of providing the best experience for our customers as we continue our transition from a traditional auctioneer to a marketplace for insights, services, and transaction solutions for commercial assets."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.