Ritchie Bros. now offering financing to IronPlanet customers through Ritchie Bros. Financial Services

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Oct 18, 2017, 07:00 ET

VANCOUVER, Oct. 18, 2017 /PRNewswire/ - Ritchie Bros. Financial Services (RBFS) is expanding its reach, now serving as a preferred provider for IronPlanet, a leading online marketplace for used equipment and other durable assets.

IronPlanet's growing customer base will now have access to RBFS' LeaseFlex™ and PurchaseFlex™ financing solutions, which offer more flexibility and convenience compared to traditional bank financing when purchasing trucks and equipment.

"Ritchie Bros. Financial Services has a fast and easy application process, helping equipment buyers get quicker access to the cash they need to bid and purchase with confidence," said Sharon Driscoll, CFO of Ritchie Bros. and Board Chair at RBFS. "When RBFS was introduced six years ago, the company focused solely on providing financing solutions for customers of our live auctions. As the focus on the overall customer experience has evolved, RBFS has diversified, providing financing to customers buying equipment from other sources, including dealerships. Becoming an official preferred provider with IronPlanet is a logical next step for RBFS and an excellent opportunity for growth."

"We are thrilled to bring our various financing solutions to IronPlanet to help increase the purchasing power of its buyers," said Jim Case, CEO, RBFS. "Our goal is to make buying equipment easier than ever before. Our LeaseFlex and PurchaseFlex products cover a huge range of equipment types, ages, and financing terms; once pre-approved customers can shop for almost anything. We finance all brands. Our pre-approvals last 90 days and are quick and easy to renew."

Both IronPlanet and RBFS are part of Ritchie Bros., a publicly-traded (NYSE and TSX: RBA), global asset management and disposition company, offering customers end-to-end solutions for buying and selling used heavy equipment, trucks, and other assets, when, where and how they choose.

For more information about IronPlanet and Ritchie Bros. Financial Services, visit IronPlanet.com and/or RBFinance.com.

About Ritchie Bros. Financial Services:
Ritchie Bros. Financial Services (RBFS), established in 2011, is a financial services provider specializing in equipment financing solutions for construction, transportation, agriculture and other industries. Owned by Ritchie Bros., the publicly-traded global asset management and disposition company, RBFS is uniquely positioned to help connect equipment buyers with the right financing provider for their purchases. As of 2017, the company has funded more than US$1 billion in equipment and truck purchases with their PurchaseFlex™ Financing solutions. RBFS is based in Ritchie Bros.' corporate headquarters in Burnaby, B.C.

About Ritchie Bros.:
Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is a global asset management and disposition company, offering customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets. Operating in a multitude of sectors, including construction, transportation, agriculture, energy, oil and gas, mining, and forestry, the company's selling channels include: Ritchie Bros.Auctioneers, the world's largest industrial auctioneer offers live auction events with online bidding; IronPlanet, an online marketplace with featured weekly auctions and providing its exclusive IronClad Assurance® equipment condition certification; EquipmentOne, an online auction marketplace; Mascus, a leading European online equipment listing service; and Ritchie Bros. Private Treaty, offering privately negotiated sales. The company also offers sector-specific solutions including GovPlanet, TruckPlanet, Kruse Energy Auctioneers, and Cat^®auctions, plus equipment financing and leasing through Ritchie Bros. Financial Services. For more information about the unprecedented choice provided by Ritchie Bros., visit RitchieBros.com.