Ritchie Bros. acquires Rouse Services

By Thomas Allen30 October 2020

Equipment auctioneer Ritchie Bros. has acquired used equipment and rental data specialist Rouse Services for approximately US$275 million.

With this acquisition, Ritchie Bros. intends to expand its data and service offering.

02-wheel-loaders-orlando

Ritchie Bros. will expand its data and service offering with the acquisition of Rouse Services

Ann Fandozzi, CEO of Ritchie Bros., said, “Data and analytics are fundamental building blocks to deliver great customer experiences in today’s world.”

She added, “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.”

Los Angeles based Rouse Services offers data intelligence and benchmarking products to help its customers make decisions.

Its subscription-based revenue is generated by three data-as-a-service (DaaS) offerings: rental analytics, equipment sales support, and fleet appraisals.

Rouse Services, which has approximately 60 employees, will continue to operate as usual and will maintain its physical presence in Los Angeles, California, for the foreseeable future.

Fandozzi said, “By working together, we will be able to help customers better understand used equipment trends and how to use them to optimise 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.”

Gary McArdle, Executive Vice President and COO of Rouse Services, said, “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.”

Under the terms of the transaction, Ritchie Bros. will acquire 100% of the equity of Rouse Services for approximately $250 million in cash and approximately $25 million in common stock of Ritchie Bros., subject to adjustment.

Completion of the acquisition is subject to customary closing conditions.

MAGAZINE
NEWSLETTER
Delivered directly to your inbox, Access, Lift & Handlers Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
Featured Training From Easybook
NYC SST Online Training

The clock is ticking… Construction workers in New York City – have you fulfilled your required Site Safety Training (SST)? Get your SST card online now

Latest Events
SAIA Awards: Call for entries
The Scaffold & Access Industry Association (SAIA) is now accepting entries for its annual awards, set for August 24 in Boston during the Annual Convention & Exposition
Registration opens for SAIA annual event
Registration is now open for the Scaffold & Access Industry Association’s Annual Convention & Exposition.
Preview: World of Concrete 2022
After a scaled-down 2021 event, World of Concrete 2022 is readying for more exhibitors, visitors and education. ALH provides a preview.
Off-Highway Research

The gold standard in market research

Off-Highway Research offers a library of more than 200 regularly updated reports, providing forensic detail on key aspects of the construction equipment industry.

Our detailed insights and expert analyses are used by over 500 of the world’s largest and most successful suppliers, manufacturers and distributers, to inform their strategic plans and deliver profitable growth.

Click here to visit our website

CONNECT WITH THE TEAM
Lindsey Anderson Editor, Access, Lift & Handlers Tel: +1 312 929 4409 E-mail: lindsey.anderson@khl.com
Tony Radke Sales Manager Tel: +1 480 478 6302 E-mail: tony.radke@khl.com
CONNECT WITH SOCIAL MEDIA