IronPlanet and Cat Auction Services Announce First Joint Auction
IronPlanet, the leading online marketplace for buying and selling used heavy equipment and trucks, and Associated Auction Services LLC, an alliance of Caterpillar and several of its independent Cat® dealers, that operates under the name of Cat Auction Services (“Cat Auction Services”) will hold a live unreserved public auction in Kissimmee, Fla., Feb. 11-13 with more than 1,000 items up for bid. All of the equipment will be backed by IronPlanet’s IronClad Assurance® buyer protection program.
“We are very excited about working with Cat Auction Services to combine the best of two industry leaders for this joint auction event in Florida,” said Gregory J. Owens, IronPlanet Chairman and CEO. “We’ll have a large and diverse selection of late model equipment from OEMs, Caterpillar dealers, rental companies and large contractors. All of the equipment will be backed by our exclusive IronClad Assurance, so buyers onsite in Kissimmee can bid with confidence as can our more than one million registered users online from around the world.”
IronPlanet and Cat Auction Services joint auction highlights include:
• 30+ articulated dump trucks
• 50+ backhoe loaders
• 15+ cargo trucks
• 40+ compact track loaders
• And more
“The IronPlanet and Cat Auction Services joint event in Kissimmee is going to be an exciting auction and we are thrilled to be a part of it,” said Frank Fowler, senior vice president and director of used sales at Ring Power Corporation. “IronPlanet and Cat Auction Services together in one auction will be the largest selection of quality used Cat equipment in Florida, an event not to be missed.”
Equipment will be sold from OEMs, dealers, rental companies and contractors, including:
Cat® Certified Used
H.O. Penn Machinery
Phillips & Jordan
Walker Machinery Co.
Whayne Supply Co.
Date: Feb. 11-13
Time: 9 a.m. daily start
Place: 5000 Oren Brown Rd., Kissimmee, Fla.
Buyers around the world will also be able to view and bid on the full list of items at IronPlanet’s online marketplace at www.ironplanet.com and at www.catauctions.com.
Full Suite of Services
All of the equipment at auction will be backed by IronPlanet’s IronClad Assurance® buyer protection program, which assures them that they have an accurate representation of equipment condition, and certain qualified Cat® equipment will be backed by the Cat® Equipment Protection Plan. The auction will also feature a full range of onsite and online support services, including finance and transportation options, among others. The Caterpillar #31 Show Car will also be onsite for public viewing.
IronPlanet and Cat Auction Services 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. This auction is being conducted pursuant to a joint venture agreement, which is independent of the proposed merger.
IronPlanet is the leading online marketplace for used heavy equipment and an innovative participant in the multi-billion dollar heavy equipment auction market. Since 2000, IronPlanet has sold over $4 billion of used equipment online and has built a database of more than one million registered users worldwide. IronPlanet connects buyers and sellers of used equipment with its exclusive IronClad Assurance® buyer protection program and family of sites including IronPlanet®, GovPlanetSM, TruckPlanet®, Kruse EnergySM, allEquipSM and Asset Appraisal ServicesSM. IronPlanet is backed by Accel Partners, Kleiner Perkins Caufield & Byers, Caterpillar, Komatsu and Volvo. For more information, visit www.ironplanet.com
About Cat Auction Services
Cat Auction Services was formed in 2008, and now has Caterpillar Inc., and a large number of its North American dealers as its unit holders. Cat Auction Services facilitates auctions through live events, online bidding and a monthly, timed-out, online platform called eQuipment Yard. Cat Auction Services is raising the bar in the highly competitive heavy equipment auctions market, giving customers a better experience with its innovative LEADERBOARD®, professional staff, TA-1 inspection reports, comprehensive photos and videos, equipment protection plans and equipment financing. For more information, visit www.catauctions.com.
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