IronPlanet Sells More than $46 Million in Equipment

PLEASANTON, Calif. and EAGAN, Minn. (March 31, 2015)—IronPlanet sold $46.7 million in equipment at auctions held across its marketplaces March 25th – 27th. In addition to auctions held on IronPlanet’s online marketplaces, onsite events included a joint unreserved public auction with Cat Auction Services in Des Moines, Iowa, and a 2-day auction by Kruse Energy & Equipment Auctioneers held in Oklahoma City, Oklahoma.

More than 24,000 people attended the auctions online and onsite and a total of 3,530 items were sold for $46.7 million in gross merchandise value.

“We ended the quarter with a strong week of auctions that sold more than $46 million in equipment,” said Gregory J. Owens, IronPlanet chairman and CEO. “I am very excited with the momentum that we have in the market and the value we are delivering to our customers across the construction, transportation, government, and oil and gas sectors.

The joint IronPlanet and Cat Auction Services auction hosted by Ziegler Cat sold $9 million in GMV.

Highlights from auctions across IronPlanet Marketplaces

• In North America, IronPlanet’s auction included a job completion sale for Morgan Corp., who sold a package of 55 units with 11 Volvo A40E articulated dump trucks.
• In Europe, IronPlanet’s end-of-quarter sale drew more than 2,800 attendees from Europe, Asia, the Middle East and the Americas, with strong performance on packages from Loxam and Vinci.
• Kruse Energy and Equipment sold 17 rigs and surplus oilfield equipment over its 2-day sale in Oklahoma City.
• IronPlanet’s GovPlanet marketplace sold more than 300 items, including 50 military Humvees and four Oshkosh M1070HET trucks.

IronPlanet and Associated Auction Services LLC announced on December 19, 2014, that they had signed an agreement to merge. The transaction is subject to regulatory approval and other standard closing conditions, and is anticipated to be completed during the first quarter of 2015. The transaction is not subject to the federal premerger waiting period. The Des Moines joint auction was conducted pursuant to a joint venture agreement, which is independent of the proposed merger.

For more information, visit IronPlanet.