Travelers Capital Selects Ritchie Bros. as its Preferred Disposition Agent and Valuation Partner

VANCOUVER, BC, April 14, 2021 /PRNewswire/ - Travelers Capital, a transitional capital financing initiative from Travelers Financial Group designed to support small and mid-market businesses that operate in asset-intensive industries, announced today its alliance with Ritchie Bros., a leading global provider of asset management, valuation, and disposition solutions.

After a series of successful closings facilitated by working alongside the Ritchie Bros. team, Travelers Capital has chosen Ritchie Bros. as its preferred disposition agent and Ritchie Bros.' affiliate Rouse Appraisal Services as its valuation partner for appraisal services on all heavy equipment financing transactions.

"Ritchie Bros. set of solutions will provide the best platform for our customers to access untapped liquidity by recapitalizing their revenue-producing assets or through up-front dispositions on their under-utilized fleet during an initial consultation," said Jim Case, Chief Executive Officer, Travelers Financial Group. "Under the guidance of Ritchie Bros.' best-in-class valuation group, we are able to offer customers committed long-term financing solutions, with flexible and customized terms to meet their business needs."

"This partnership with Ritchie Bros. will allow us to expand Travelers Capital underwriting practices across North America and execute on our heavy equipment financing transactions in a consistent and efficient manner," noted Warren Miller, Vice President of Travelers Capital. "With end-to-end support from Ritchie Bros., we are able to execute transactions across the risk spectrum and provide capital to those in need, irrespective of the credit history or financial profile."

"The alliance with Travelers Capital is an example of how Ritchie Bros. supports the needs of the financial services sector," said Jim Kessler, Chief Operating Officer, Ritchie Bros. "By way of our comprehensive valuation and disposition strategies, we are able to support businesses in transition and help owners better manage risk within their businesses. Our goal is to expedite and enhance the Travelers Capital underwriting process, allowing them to structure and execute with confidence across varied asset classes under the guidance of our appraisal services division and multinational disposition platforms."

For more information about Travelers Capital, visit www.travelerscapital.com.

About Travelers Capital

Travelers Capital Inc. is an alternative capital provider to public and private mid-market enterprises seeking custom finance solutions outside of those offered by traditional lending institutions. Travelers Capital is a member of Travelers Financial Group who possess over 40-years of asset-based lending experience and is a leading provider of equipment finance and specialty loan and lease arrangements. The services available to customers from this partnership include the traditional refinancing, restructuring and consolidation of loans, bridge loans, mezzanine facilities, and other non-traditional and core financing services.

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 number 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 the exclusive IronClad Assurance® equipment condition certification; Marketplace-E, a controlled marketplace offering multiple price and timing options; Mascus, a leading European online equipment listing service; and Ritchie Bros. Private Treaty, offering privately negotiated sales. The Company's suite of solutions also includes Ritchie Bros. Asset Solutions and Rouse Services LLC, which together provides a complete end-to-end asset management, data-driven intelligence and performance benchmarking system. Ritchie Bros. also offers sector-specific solutions including GovPlanet, TruckPlanet, and Kruse Energy, plus equipment financing and leasing through Ritchie Bros. Financial Services. For more information about Ritchie Bros., visit RitchieBros.com.

SOURCE Travelers Capital