IronPlanet and Ritchie Bros. have announced that they will be combining to create the premier source to sell and buy used heavy equipment. As one company, they will have the ability to provide construction companies around the world, with unprecedented choices in selling, buying, and listing equipment on-site or online, reserved or unreserved.

"This transformative transaction is the logical next step for Ritchie Bros., building on our multi-channel platform, global reach and long-standing customer relationships. Together with IronPlanet, we will create a combined company of trusted brands with the ability to provide customers around the world with a greater number of choices and platforms to sell, buy and list equipment. Our commitment to diversifying our offerings is directly in line with customer demand for multiple selling and buying solutions,” said Ravi Saligram, Chief Executive Officer of Ritchie Bros.