Auctions, Used Equipment, Rental & Finance

Ritchie Bros is to acquire multi-manufacturer platform SmartEquip as part of a $175 million deal. 

In a major move in the global plant and machinery auctions sector, off-highway equipment auctioneer Ritchie Bros. has entered into an agreement to acquire Euro Auctions group for an enterprise value of £775mn (US$1.08bn).

JCB Finance has now provided £50m in loans to the UK construction industry during the coronavirus pandemic.

Euro Auctions says its latest sale in Leeds, UK indicates that the demand for good quality used equipment has been building following the advent of COVID-19.