Ritchie Bros. Auctioneers

RB Global is a multinational consumer goods company headquartered in Slough, England. It was founded in 1823 as a small pharmacy in Hull, England, and has since grown into a global leader in the health and hygiene industry. The company is known for its popular brands such as Lysol, Dettol, Finish, and Clearasil. RB Global operates in over 60 countries and employs over 40,000 people worldwide.
RB Global’s business is divided into two main segments: Health and Hygiene Home. The Health segment includes products for personal health, wellness, and hygiene, such as antiseptics, antibacterial soaps, and supplements. The Hygiene Home segment includes products for household cleaning and disinfection, such as surface cleaners, air fresheners, and laundry detergents.
The company’s mission is to make a difference by giving people innovative solutions for healthier lives and happier homes. RB Global is committed to sustainability and has set ambitious goals to reduce its environmental impact and promote social responsibility.
RB Global is a publicly traded company listed on the London Stock Exchange and is a constituent of the FTSE 100 index. It has a diverse and experienced leadership team, led by CEO Laxman Narasimhan.
In addition to its business operations, RB Global also has a strong philanthropic presence through its RB Foundation, which supports health and hygiene initiatives around the world.

1. Global Presence: Ritchie Bros. has a global presence with operations in over 25 countries and the ability to conduct auctions in multiple languages, allowing them to reach a wider audience and offer a diverse range of equipment.
2. Trusted Reputation: With more than 60 years in the auction business, Ritchie Bros. has built a reputation for being a reliable and trusted source for buying and selling equipment. This has led to a large loyal customer base and high levels of customer satisfaction.
3. Innovative Technology: The company has a strong focus on technology and has developed numerous online tools and platforms to enhance the auction experience for both buyers and sellers. This includes real-time bidding, online inventory management, and virtual equipment inspections.
4. Extensive Inventory: Ritchie Bros. has one of the largest inventories of used and unused equipment in the world, making it a one-stop-shop for buyers looking for a wide range of equipment.
5. Comprehensive Services: In addition to traditional auctions, the company also offers a range of services such as financing, equipment inspections, and transportation, providing a complete end-to-end solution for their customers.
6. Sustainability Initiatives: Ritchie Bros. is committed to promoting sustainable business practices and has developed programs to reduce waste and promote reusability of equipment, minimizing its impact on the environment.
7. Corporate Social Responsibility: The company has a strong focus on giving back to the community through various philanthropic initiatives, such as supporting local charities and disaster relief efforts.

Ritchie Bros. Auctioneers is a leading industrial auctioneer, specializing in the sale of used and unused heavy equipment and other assets through live unreserved public auctions, online auctions, and private negotiated sales. The company’s business model is based on procuring consignments directly from equipment owners, sellers, and buyers, and facilitating the sale of these assets through its auction platform.
The company’s key business activities include marketing and advertising to attract consignments, conducting inspections and valuations of assets, organizing and promoting auctions, providing financing and payment management services, handling logistics and transportation of equipment, and providing post-sale services such as title transfers and equipment tracking.
Ritchie Bros. operates on a commission-based model, where it earns a percentage of the final sale price of each asset sold at an auction. This incentivizes the company to secure high volumes of quality assets and attract a large number of buyers to its auctions.
In addition to its core business of equipment auctions, Ritchie Bros. also offers equipment appraisal services, equipment financing, and insurance services, expanding its revenue streams and providing a one-stop-shop for its customers.
The company also utilizes advanced technology and data analytics to streamline its auction processes and provide customers with real-time access to information, creating a transparent and efficient marketplace for buying and selling equipment.

1. The company was founded in 1958 by David Edward Ritchie, who purchased a small machinery auction business in Kelowna, British Columbia, Canada.
2. The first Ritchie Bros. auction featured a total of 4 tractors and grossed $2,000.
3. The company’s headquarters is located in Burnaby, British Columbia, and has 40 locations worldwide.
4. Ritchie Bros. is known for its unreserved public auctions, where every item is sold to the highest bidder with no minimum bids or reserve prices.
5. The company has sold over $5 billion worth of equipment and other assets in the past year.
6. In 1986, Ritchie Bros. became the first auctioneer to offer live internet bidding, allowing buyers to bid remotely from anywhere in the world.
7. In 1998, the company expanded beyond traditional auctions and began holding online auctions through its subsidiary, IronPlanet.
8. Ritchie Bros. was listed on the New York Stock Exchange in 1998 and is currently traded under the ticker symbol RBA.
9. The company’s largest auction to date was held in Orlando, Florida in 2020 and featured over 13,000 items sold for a total of $297 million.
10. In addition to equipment auctions, Ritchie Bros. also offers appraisal services, equipment financing, and asset management solutions for its customers.
See Company Due Diligence: