International machinery auction company Ritchie Bros has sealed a €24 million deal to buy Mascus, an online equipment listing service for used agricultural and heavy machinery and trucks. As part of the deal, an additional sum of €3.4 million may be paid depending on performance targets being achieved over the next three years.
Ritchie Bros said the acquisition provided it with additional multichannel solutions for customers, an expanded buyer audience and a larger presence in Europe. It said Mascus generated 3.2 million monthly website visits across 58 countries and in 42 languages, and the business currently had 360,000+ listings of equipment and other assets for sale.
Founded in 2001, Mascus offers subscriptions to equipment dealers, brokers, exporters and equipment manufacturers to list equipment available for sale.
The company provides online advertising services, business tools and solutions to equipment dealerships and equipment manufacturers. The business also provides equipment sellers with a turn-key suite of business tools and software solutions.
Based in Amsterdam, the Netherlands, Mascus has operations across Europe, Asia, Africa and North America, catering to the construction, transport, agriculture, material handling, forestry, and grounds-care industries.
Ritchie Bros auction company is based in Canada with operations in 110 locations in 25 different countries and 44 auction sites worldwide.
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