Hart-Scott-Rodino clearance withdrawn prematurely by RB Global
In a significant move, RB Global, a leading, omnichannel marketplace and trusted provider of value-added insights, services, and transaction solutions for buyers and sellers of commercial assets and vehicles worldwide, has announced the completion of the acquisition of J.M. Wood Auction Co., Inc. The deal, which was initially announced in May, was finalized on July 14, 2025.
The acquisition, valued at $235 million, will see RB Global's U.S. subsidiary acquire 100% of J.M. Wood Auction Co. J.M. Wood will continue to operate as an independent entity, retaining its in-person auction format and headquarters in Montgomery, Alabama.
This strategic acquisition expands RB Global’s auction footprint in the southeastern U.S., particularly in Alabama, filling a geographic gap and adding local municipal and commercial relationships. RB Global aims to leverage J.M. Wood’s local expertise combined with its global resources to drive growth and capitalize on increasing infrastructure spending in the region.
The acquisition was not considered material under SEC rules, implying that it has a smaller but strategic impact on RB Global’s financials with no immediate changes to financial guidance or balance sheets disclosed at closing.
The acquisition was subject to customary closing conditions and was pending as of May 22, 2025. One of the conditions for the closing was the termination of the waiting period under the HSR Act, which was granted early by the U.S. Federal Trade Commission.
RB Global serves customers worldwide across a variety of asset classes, including automotive, construction, commercial transportation, government surplus, lifting and material handling, energy, mining, and agriculture. Its end-to-end marketplace solutions include Ritchie Bros., IAA, Rouse Services, SmartEquip, and VeriTread.
For further information, media inquiries can be directed to Val Alitovska at (312) 505-9900 or [email protected]. Analyst inquiries can be directed to Sameer Rathod at (510) 381-7584 or [email protected].
RB Global's forward-looking statements are based on current expectations and assumptions and are subject to risks and uncertainties that may cause actual results to differ materially. The forward-looking statements are made only as of the date hereof and RB Global does not undertake any obligation to update any forward-looking statements to reflect actual results, new information, future events, changes in its expectations or other circumstances that exist after the date as of which the forward-looking statements were made, except as required by law.
For more information about RB Global's global network of auction sites and digital platform, visit www.rbglobal.com.
[1] RB Global, Inc. Press Release, May 22, 2025. [2] RB Global, Inc. Filing, July 15, 2025. [3] J.M. Wood Auction Co., Inc. Press Release, July 14, 2025. [4] RB Global, Inc. Filing, July 14, 2025.
The $235 million acquisition of J.M. Wood Auction Co. by RB Global's U.S. subsidiary, completed on July 14, 2025, enhances RB Global's auction footprint in the southeastern U.S. and leverages local expertise for growth. RB Global's acquisition strategy targets increasing infrastructure spending in the region. The acquisition is a strategically small but impactful deal, as per SEC rules, with no immediate changes to financial guidance or balance sheets disclosed at closing. The deal is subject to regulatory compliance, like the termination of the waiting period under the HSR Act, which was granted early by the U.S. Federal Trade Commission.
