"This acquisition furthers our goal of providing the best experience for our customers as we continue our transition from a traditional auctioneer to a marketplace for insights, services, and transaction solutions for commercial assets," said Ann Fandozzi, Chief Executive Officer of Ritchie Bros. "SmartEquip will enable us to offer asset-specific, full-lifecycle parts and service support on behalf of our dealer and OEM partners to our buyers."
SmartEquip is a multi-manufacturer platform that provides customers with real-time service and diagnostic support, dynamically customized, via serial number, to each asset in their fleet, as well as enabling the electronic procurement of parts from OEMs and their dealers. The company supports approximately $1 billion in annual transaction volume with more than 600 OEM brands, on behalf of fleet locations across North America, Europe, and the Asia Pacific.
SmartEquip has 60 employees and will continue to operate as a standalone business and maintain its physical presence in Norwalk, CT, for the foreseeable future.
As one of the latest models in the R2-Series excavator lineup, the Bobcat® E88 delivers durability, performance and quality for more productivity. Technically speaking, it's a compact machine, but it brings big performance with its redesigned engine and optimized lift performance, plus undercarriage and counterweight improvements. All these enhancements make this excavator one of the highest-performing models in its size class. With impressive over-the-side lift capacity, you can dig with greater confidence over the side of the machine. Put it to the test against similar models from other manufacturers. You'll see that the E88 can outwork the competition.