August.30.2016
An Orrick team advised longtime client IronPlanet in its $758 million acquisition by Ritchie Bros. Auctioneers, the world’s largest industrial auctioneer.
Under an agreement announced this week, Ritchie, based in Canada, will buy IronPlanet, a privately held leading online marketplace for used heavy equipment and other durable asset sales. In announcing the deal, Ritchie executives said the combined company would provide customers worldwide with a larger menu of platforms to sell, buy and list equipment online or on-site.
The Orrick team was led by partners Richard Smith, Garret Rasmussen, Steve Malvey and Nancy Chen. The team was also backed by Pat Zeigler, Daniel Yost, Harry Clark, Douglas Lahnborg and Matt Rose, as well as Chris Trester, Michael Yang, Tim Greene, Patrick Ekeruo, Scott Pearsall and Nancy Dailey, Kimberly Loocke, Greg Hume, Conner Pine and Lynne Hirata.