Ritchie Bros. Auctioneers completed the acquisition of SmartEquip for $175m.

Ritchie Bros. Auctioneers, an operator of marketplace for heavy equipment, completed the acquisition of SmartEquip, a provider of a web-based parts procurement system, for $175m. "Ritchie Bros. is a perfect partner for us and our team is very excited to take the next growth step together. Through Ritchie Bros.' global customer base, this merger will accelerate SmartEquip's ability to support its rapidly growing footprint across our joint global marketplaces and customer base. We can't wait to get started!" Bryan Rich, SmartEquip Executive Chairman.