RB Global

Corporate brand

RB Global is a Canadian-domiciled global marketplace operator for used equipment, commercial assets, vehicles, and industrial goods.

Last updated August 31, 2026

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Overview

RB Global is a publicly traded marketplace and asset-disposition company whose origins lie in Ritchie Bros. Auctioneers, the equipment-auction business founded by the Ritchie brothers in British Columbia. The company developed from a family furniture store into a specialist seller of used construction, agricultural, transportation, energy, and industrial equipment, first through live auctions and later through a combination of physical auction sites, online marketplaces, listings, inspections, financing-related services, and other transaction-support capabilities. The business began in Kelowna, British Columbia, where Ken, John, and Dave Ritchie took over their father’s OK Used Furniture Store in 1955. They entered the auction business in 1958 and incorporated Ritchie Bros. Auction Galleries Ltd. that year. During the 1960s, the company shifted toward used equipment, expanded across western and eastern Canada, and established its first equipment-auction site in Vancouver. It gradually moved from leased venues to permanent auction properties, including a company-owned site in Edmonton established in 1976. Ritchie Bros. entered the United States in the late 1960s and held its first U.S. auction in Oregon in 1970. The company subsequently expanded into additional North American regions and, beginning in the late 1980s, into overseas markets including the United Kingdom, the Netherlands, Australia, and other countries. Its auction model emphasized broad public access, standardized processes, and the sale of equipment without traditional dealer-style inventory ownership by buyers. Physical auctions remained important, but digital channels became increasingly central to the company’s growth strategy. The company went public in 1998, when its annual gross auction proceeds exceeded US$1 billion. Its common shares trade under the symbol RBA on both the New York Stock Exchange and the Toronto Stock Exchange. Over time, RB Global broadened its portfolio through acquisitions in equipment auctions, agricultural machinery, online selling, collector vehicles, and related asset categories. Important additions included Forke Brothers, Mascus, IronPlanet, Petrowsky Auctioneers, Kramer Auctions, and Leake Auction Company. A major strategic transformation followed the acquisition of IAA, a U.S. vehicle marketplace and salvage-auction operator, completed in 2023 in a transaction described as worth approximately US$7 billion. The combination expanded the company beyond heavy equipment into vehicle remarketing and created a more diversified marketplace platform. In the same period, the parent company adopted the RB Global name, while continuing to operate customer-facing brands and platforms associated with Ritchie Bros., IAA, IronPlanet, and other businesses. RB Global’s business now spans live and online auctions, fixed-price and listing-based sales, salvage and vehicle marketplaces, inspections, logistics-related services, and digital tools for buyers and sellers. Its customer base includes contractors, equipment dealers, rental companies, fleet operators, manufacturers, insurers, government bodies, and individuals. The company operates internationally through auction sites, online platforms, and regional business units. Its competitive positioning rests on transaction scale, specialized asset knowledge, buyer reach, auction infrastructure, digital discovery, and the ability to combine several disposition channels within one corporate network.

History

RB Global traces its origins to the Ritchie family’s retail and auction activities in Kelowna, British Columbia. In 1955, brothers Ken, John, and Dave Ritchie took over their father’s OK Used Furniture Store. Four years later, they entered the auction business and incorporated Ritchie Bros. Auction Galleries Ltd. The enterprise initially handled general merchandise, but during the 1960s it increasingly specialized in used construction and industrial equipment. The company’s early expansion was concentrated in Canada. It conducted auctions in Alberta, the Yukon, Saskatchewan, Manitoba, and other provinces, while establishing a more permanent operating model. Its first equipment auction in Vancouver followed Dave Ritchie’s move there in 1963. In 1965, Ken Ritchie left the business for a period, and the company changed its name to Ritchie Bros. Auctioneers Ltd.; he returned in 1968. That year, the company held its first auction with gross proceeds above CA$1 million. Edmonton became the location of its first permanent company-owned auction site in 1976. International growth began with entry into the United States. Ritchie Bros. incorporated in Washington in 1969 and conducted its first auction outside Canada in Beaverton, Oregon, in 1970. The company expanded across the United States and later developed operations in the United Kingdom, the Netherlands, Australia, and other international markets. This growth created a network of physical auction yards supported by a standardized auction process and a broad base of commercial buyers. Ritchie Bros. became a public company in 1998. Its New York Stock Exchange listing began in March of that year, followed by a Toronto Stock Exchange listing in 2004. Acquisitions became an important component of the company’s development. Forke Brothers strengthened its U.S. equipment-auction presence in 1999. Later acquisitions expanded the business into agricultural equipment, online listings, specialist auction operations, collector vehicles, and digital selling. Mascus added an equipment-listing capability, while IronPlanet, acquired in 2017, deepened the company’s online auction platform. Petrowsky Auctioneers, Kramer Auctions, and Leake Auction Company added regional and category expertise. The company attempted to acquire Euro Auctions in 2021 for approximately £775 million, but discontinued that transaction in 2022. Its most consequential expansion came through the acquisition of IAA, a U.S. marketplace focused on salvage and total-loss vehicles. The transaction closed in 2023 and broadened RB Global’s customer base and asset categories beyond traditional heavy equipment. Following the deal, the parent company adopted the RB Global name, reflecting a strategy to operate a diversified group of marketplaces rather than a single auction brand. Today, RB Global combines physical auctions, online auctions, fixed-price listings, inspections, and other transaction services. Its operating portfolio serves the construction, agriculture, transportation, industrial, energy, automotive, insurance, and government sectors. The company’s evolution reflects the wider digitization of asset remarketing: live auction yards remain part of the network, while online search, bidding, data, and logistics increasingly shape how assets are sold and purchased.

2023
IAA acquisition and RB Global rebrand
[1]RB Globalen.wikipedia.org
RB Global completes its acquisition of IAA and introduces RB Global as the parent company’s new name.
2022
Euro Auctions transaction discontinued
[1]RB Globalen.wikipedia.org
The company ends its proposed acquisition of Euro Auctions.
2017
IronPlanet acquisition closes
[1]RB Globalen.wikipedia.org
The acquisition of online auction company IronPlanet is completed after regulatory approval.
1999
Acquisition of Forke Brothers
[1]RB Globalen.wikipedia.org
The company acquires the Nebraska-based equipment auctioneer Forke Brothers.
1998
Public listing
[1]RB Globalen.wikipedia.org
Ritchie Bros. becomes publicly traded and reports annual gross auction proceeds above US$1 billion.
1970
First auction outside Canada
[1]RB Globalen.wikipedia.org
Ritchie Bros. holds its first non-Canadian auction in Beaverton, Oregon.
1969
Entry into the United States
[1]RB Globalen.wikipedia.org
The company incorporates in Washington, beginning its formal expansion beyond Canada.
1963
First Vancouver equipment auction
[1]RB Globalen.wikipedia.org
After establishing a Vancouver base, the company conducts its first equipment auction there.
1958
Ritchie Bros. enters the auction business
[1]RB Globalen.wikipedia.org
The brothers begin auction operations and incorporate Ritchie Bros. Auction Galleries Ltd.
1955
The Ritchie brothers take over a family furniture store
[1]RB Globalen.wikipedia.org
Ken, John, and Dave Ritchie take over the OK Used Furniture Store in Kelowna, British Columbia, establishing the family business from which the later auction company develops.

Products and positioning

A global, multi-channel marketplace and asset-disposition platform connecting sellers of used equipment and vehicles with commercial and individual buyers through live auctions, online auctions, listings, and related services.

Live and online equipment auctions · 1958
Ritchie Bros. auctions
Ritchie Bros. is the group’s legacy auction business, selling used construction, agricultural, transportation, industrial, energy, and other commercial equipment. It operates through physical auction sites and digital bidding channels, serving contractors, dealers, rental companies, fleet operators, manufacturers, governments, and individual buyers.
Online equipment marketplace
IronPlanet
IronPlanet is an online auction and marketplace platform for used equipment. Its digital model complements physical auction yards by enabling remote asset discovery, bidding, and transaction activity across commercial equipment categories.
Vehicle salvage and remarketing marketplace
IAA
IAA provides marketplace infrastructure for salvage, total-loss, and other vehicles, connecting insurers, vehicle sellers, dismantlers, rebuilders, exporters, dealers, and other buyers. Its integration broadened RB Global into automotive asset remarketing.
Used equipment listings
Mascus
Mascus is a used-equipment listing service within the group’s marketplace portfolio. It supports online discovery and advertising of machinery and commercial assets, extending the group beyond timed and live auction formats.
Collector and specialty vehicle auctions · 2018
Leake Auction Company
Leake Auction Company brought collector-car and specialty-vehicle auction capabilities into the Ritchie Bros. portfolio, adding a category distinct from heavy equipment and industrial assets.

Brand decisions

2023
Acquisition of IAAM&A
Background
The company pursued a major expansion from equipment auctions into vehicle salvage and automotive remarketing.
Action taken
RB Global completed the acquisition of IAA in a stock-and-cash transaction.
Aftermath
The combination created a more diversified marketplace group and was followed by the adoption of RB Global as the parent company name.
Transaction value. Approximately US$7 billion (2023 completion)
Source
2023
Adoption of the RB Global parent-company nameStrategy
Background
The IAA acquisition expanded the company beyond the Ritchie Bros. equipment-auction identity.
Action taken
The company introduced RB Global as the name of its parent organization while continuing to operate established brands and platforms.
Aftermath
The rebrand positioned the organization as a portfolio of global asset marketplaces rather than solely an equipment auctioneer.
Source
2021
Proposed Euro Auctions acquisitionM&A
Background
The proposed transaction was intended to expand the company’s international industrial, construction, and agricultural-equipment marketplace presence.
Action taken
Ritchie Bros. announced an agreement to acquire Euro Auctions, a Northern Ireland-based auction house.
Aftermath
The acquisition attempt was discontinued in April 2022.
Proposed acquisition price. £775 million proposed transaction value (2021 announcement)
Source
2016
Plan to acquire IronPlanetM&A
Background
Ritchie Bros. sought to expand its digital auction capabilities and online equipment reach.
Action taken
The company announced a plan to acquire IronPlanet, an online auction business.
Aftermath
The transaction received U.S. Department of Justice approval and closed in May 2017.
Source

Recent events

2023
RB Global completes acquisition of IAA[1]RB Globalen.wikipedia.org
M&A
RB Global completed its stock-and-cash acquisition of IAA, expanding its marketplace activities into vehicle salvage, insurance recovery, and automotive remarketing.
2023
Parent company adopts the RB Global name[1]RB Globalen.wikipedia.org
Other
The company announced RB Global as the new name for the parent organization after the IAA combination, while retaining established operating brands.
2023
CEO and CFO departures follow compensation dispute[1]RB Globalen.wikipedia.org
Leadership change · Other
Ann Fandozzi left the chief executive role in December 2023 in connection with a dispute over equity compensation, and CFO Eric Jacobs also departed.
2022
RB Global discontinues Euro Auctions acquisition attempt[1]RB Globalen.wikipedia.org
M&A
RB Global discontinued its proposed acquisition of Northern Ireland-based Euro Auctions after announcing the transaction in 2021.

Sources9 sources

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