RB Global Inc. announced last Wednesday (March 4) it will buy Nebraska-based BigIron for an undisclosed sum, expecting to close the deal in the second half of this year.

BigIron, whose roots in the auction business date back to 1984, is now billed as “a scaled, agriculture-focused online marketplace connecting buyers and sellers of agricultural equipment, land, livestock, and other farm and ranch assets.”

According to RB Global, BigIron processed about $885 million in gross transaction value in the 12 months ending last Sept. 30, including about $520 million worth of farm assets and vehicles and about $365 million in farmland and real estate transactions (all figures US$).

“BigIron brings a talented team with deep ag sector knowledge and an established sales footprint that will continue operating as a stand-alone brand while being complemented by the Ritchie Bros. industrial footprint,” RB Global CEO Jim Kessler said in a release. “This will create opportunities to serve even more customers through a combination of onsite, offsite, and digital channels and solutions.”

BigIron co-founder Ron Stock noted BigIron will remain a stand-alone operation within RB Global, with he and co-founder Mark Stock “involved in the business as usual.”

“Through this combination, we gain a larger platform and additional resources, which is expected to help us deliver even greater choice and liquidity to all the sellers we serve,” Mark Stock said in the same release.

RB Global dates back to the founding of Ritchie Bros. in Kelowna in 1958, from which it expanded its services into the U.S. and overseas and bought several Canadian and U.S. auction firms, becoming publicly traded in 1998. Its corporate headquarters has since moved to the Chicago area.

In its last fiscal year ending Dec. 31, RB Global booked $412.8 million in net income on total revenue of $4.28 billion, handling a gross transaction value of $15.9 billion.

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The Steffes Group has acquired Bruce Schapansky Auctioneers, of Tisdale, Sask., the firm announced in a press release Oct. 18.

Steffes has been a major auction firm in the U.S. Midwest since its founding in North Dakota in 1960. The organization has locations in North Dakota, South Dakota, Minnesota, Iowa, Colorado and Kansas and bills itself as “… serving all of the Midwest and Rocky Mountain Regions of the United States.”

The Tisdale location will be its tenth auction house. The privately-owned firm is headquartered in Fargo, North Dakota.

Scott Steffes, president of Steffes Group, said Tisdale operations would continue to be run by Bruce Schapansky, citing Schapansky’s “seller first” approach to auctioneering and his established customer relationships.

“For his existing customers, the transition will be seamless, and we look forward to building upon what he started by delivering our comprehensive platform of auction experiences,” Steffes said in the press release.

In the same release Schapansky noted the value of the Tisdale location joining the larger organization and tapping its resources.

“Joining Steffes Auctioneers provides us with tools and resources to better serve our customers,” he said.

The Steffes Group’s services include land and equipment auctions, financing, transportation, and valuations.

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