ORLANDO,
Fla. and WESTCHESTER,
Ill., Feb. 16, 2024 /CNW/ - RB Global, Inc.
(NYSE: RBA) (TSX: RBA), the trusted global marketplace for
insights, services and transaction solutions for commercial assets
and vehicles, today announced that Ritchie Bros. Auctioneers'
Feb. 19-23 premier global auction
event in Orlando will feature a
record-setting 16,500+ items – over 20% more lots than its 2023
auction.
Equipment highlights in the Orlando auction include 3,700+ construction
equipment lots, 1,200+ transport trucks, 250+ units of aggregate
equipment, 60+ cranes, thousands of attachments, and so much more.
Bids in the auction can be made in-person, online in real time at
rbauction.com, or via Ritchie Bros.' mobile app.
"We are so excited to welcome customers to our 40th
premier global auction event in Orlando, with 200 acres full of heavy
industrial equipment and transportation assets ready to be
purchased and taken home by new owners," said Jeff Jeter, Chief Revenue Officer for RB Global.
"Check out the equipment on our website rbauction.com with
high-resolution photos and videos and/or visit our Orlando site in person to inspect and test
equipment. At Ritchie Bros., we want our buyers to have all the
information they need to bid with confidence."
About RB Global
RB Global, Inc. (NYSE: RBA) (TSX: RBA) is a leading, omnichannel
marketplace that provides value-added insights, services and
transaction solutions for buyers and sellers of commercial assets
and vehicles worldwide. Through its auction sites in 14 countries
and digital platform, RB Global serves customers in more than 170
countries across a variety of asset classes, including automotive,
commercial transportation, construction, government surplus,
lifting and material handling, energy, mining and agriculture. The
company's marketplace brands include Ritchie Bros., the
world's largest auctioneer of commercial assets and vehicles
offering online bidding, and IAA, a leading global
digital marketplace connecting vehicle buyers and sellers. RB
Global's portfolio of brands also includes Rouse Services,
which provides a complete end-to-end asset management, data-driven
intelligence and performance benchmarking system; SmartEquip,
an innovative technology platform that supports customers'
management of the equipment lifecycle and integrates parts
procurement with both OEMs and dealers; Xcira, a leader in
live simulcast auction technologies; and VeriTread, an online
marketplace for heavy haul transport.
Forward-Looking Statements
Certain statements
contained in this release contain include forward-looking
information within the meaning of Canadian securities legislation
and forward-looking statements within the meaning of Section 27A of
the Securities Act of 1933, as amended, Section 21E of the
Securities Exchange Act of 1934, as amended, and the Private
Securities Litigation Reform Act of 1995 (collectively,
"forward-looking statements"). Forward-looking statements may
include statements relating to future events and anticipated
results of operations, business strategies, the expected timing and
associated benefits with respect to the February 2024 Orlando Auction Event and other
subjects of this release on our business and plans regarding
our growth strategies, and to our customers and company generally,
and other aspects of RBA's or IAA's respective businesses,
operations, financial condition or operating results and other
statements that are not historical facts. Words such as "should,"
"may," "will," "anticipates," "expects," "intends," "plans,"
"believes," "seeks," "estimates" "could," "can," "intends,"
"target," "goal," "projects," "contemplates," "believes,"
"predicts," "potential," "continue," "foresees," "forecasts,"
"estimates," "opportunity" and similar expressions identify
forward- looking statements. It is uncertain whether any of the
events anticipated by the forward-looking statements will transpire
or occur, or if any of them do, what impact they will have on the
results of operations and financial condition of the combined
companies or the price of RBA's common shares. Therefore, you
should not place undue reliance on any such statements and caution
must be exercised in relying on forward-looking statements. While
RBA's management believe the assumptions underlying the
forward-looking statements are reasonable, these forward-looking
statements involve certain risks and uncertainties, many of which
are beyond RBA's control, that could cause actual results to differ
materially from those indicated in such forward-looking statements,
including but not limited to: the effects of the business
combination of RBA and IAA, including the combined company's future
financial condition, results of operations, strategy and plans;
potential adverse reactions or changes to business or employee
relationships, including those resulting from the completion of the
merger; the diversion of management time on transaction-related
issues; the response of competitors to the merger; the ultimate
difficulty, timing, cost and results of integrating the operations
of RBA and IAA; the fact that operating costs and business
disruption may be greater than expected following the consummation
of the merger; the effect of the consummation of the merger on the
trading price of RBA's common shares; the ability of RBA to retain
and hire key personnel and employees; the significant costs
associated with the merger; the outcome of any legal proceedings
that could be instituted against RBA; the ability of the combined
company to realize anticipated synergies in the amount, manner or
timeframe expected or at all; the failure of the combined company
to realize potential revenue, EBITDA, growth, operational
enhancement, expansion or other value creation opportunities from
the sources or in the amount, manner or timeframe expected or at
all; the failure of the trading multiple of the combined company to
normalize or re-rate and other fluctuations in such trading
multiple; changes in capital markets and the ability of the
combined company to generate cash flow and/or finance operations in
the manner expected or to de-lever in the timeframe expected; the
failure of RBA or the combined company to meet financial forecasts
and/or KPI targets; legislative, regulatory and economic
developments affecting the business of RBA; general economic and
market developments and conditions; the evolving legal, regulatory
and tax regimes under which RBA operates; unpredictability and
severity of catastrophic events, including, but not limited to,
pandemics, acts of terrorism or outbreak of war or hostilities, as
well as RBA's response to any of the aforementioned factors. Other
risks that could cause actual results to differ materially from
those described in the forward-looking statements are included in
RBA's periodic reports and other filings with the Securities and
Exchange Commission ("SEC") and/or applicable Canadian securities
regulatory authorities, including the risk factors identified under
Item 1A "Risk Factors" and the section titled "Summary of Risk
Factors" in RBA's most recent Annual Report on Form 10-K for the
fiscal year ended December 31, 2022,
and IAA's periodic reports and other filings with the SEC,
including the risk factors identified under Item 1A "Risk Factors"
and the section titled "Summary of Risks Affecting our Business" in
IAA's most recent Annual Report on Form 10-K for the fiscal year
ended January 1, 2023. The
forward-looking statements included in this release are made only
as of the date hereof. While the list of factors presented here is
considered representative, no such list should be considered to be
a complete statement of all potential risks and uncertainties. Many
of these risk factors are outside of our control, and as such, they
involve risks which are not currently known that could cause actual
results to differ materially from those discussed or implied
herein. RBA does not undertake any obligation to update any
forward-looking statements to reflect actual results, new
information, future events, changes in its expectations or other
circumstances that exist after the date as of which the
forward-looking statements were made, except as required by
law.
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SOURCE RB Global