Ritchie Bros. Auctioneers has announced that it has selected Accruit LLC as its exclusive provider of 1031 Like-Kind Exchange (LKE) services in the United States.
Ritchie Bros. has further announced that Peter Blake, chief executive officer of Ritchie Bros. Auctioneers has accepted an appointment to the board of directors of Accruit.
“We are continually seeking new ways to bring value to our customers, and we believe that the tax deferral Accruit makes possible for equipment sellers in the U.S. will be valuable to our American customers,” said Blake.
“Accruit has taken the Like-Kind Exchange and made it easy and cost effective for all qualified equipment sellers.”
“We are honored and excited to be chosen as the exclusive provider of LKE services by Ritchie Bros. Auctioneers,” said Craig McSavaney, Accruit’s president and chief executive officer.
“We are thrilled to welcome Peter Blake to our board. We have the utmost respect for Ritchie Bros. and their phenomenal worldwide success, and we look forward to providing the opportunity to take advantage of the cash flow and tax deferral benefits of Accruit’s LKE program to their U.S. customers.”
Starting immediately, Accruit and Ritchie Bros. will work together to inform Ritchie Bros. customers of the process for and benefits available through a LKE program. These activities will include co-hosted informational seminars at Ritchie Bros. locations, as well as Accruit attendance at all Ritchie Bros. auctions in the United States and Web-based information specific to Ritchie Bros. customers.
Accruit LLC headquartered in Denver, Colo., and founded in 2000, is a Qualified Intermediary to provide fully managed personal property 1031 Like-Kind Exchange services.
For more information, call 877/793-9215 or visit www.accruit.com.