IronPlanet, Cat Auction Services Complete Merger

The move will give Iron Planet customers access to a broad choice of late model, low hour Cat equipment.

📅   Thu April 02, 2015 - National Edition
CEG


The move will give IP customers access to a broad choice of late model, low hour Cat equipment.
The move will give IP customers access to a broad choice of late model, low hour Cat equipment.

IronPlanet, and Associated Auction Services LLC, an alliance of Caterpillar and several of its independent Cat dealers, that operates under the name Cat Auction Services announced today the completion of the merger of the two companies.

“This is a very exciting day for IronPlanet and Cat Auction Services, and even more importantly, for our customers as this combination will drive value and services to all of our buyers and sellers in new and innovative ways,” said Gregory J. Owens, IronPlanet Chairman and CEO. “I am confident that our marketplace offerings will enable our sellers to maximize the recovery on assets sold by reaching the right buyers at the right time through channels that are optimized for them. Similarly, our buyers will have access to a broad selection of equipment so that they can manage their inventory on their time frames either in a buy-it-now format or through one of our online or onsite auctions. We will now have access to the broadest choice of late model, low hour Cat equipment drawing larger buyer audiences for all of the equipment for sale in our marketplaces.”

According to the company, IronPlanet helps sellers optimize their inventory management practices to drive the best returns. At the same time it enables buyers to purchase from the greatest selection, on their schedule, with complete confidence due to its exclusive IronClad Assurance buyer protection program. This program assures buyers that they have an accurate representation of equipment condition.