IronPlanet, an online marketplace for buying and selling used heavy equipment and trucks, and Cat Auction Services announced the completion of the merger of the two companies.

“This is a very exciting day for IronPlanet and Cat Auction Services, and even more importantly, for our customers as this combination will drive value and services to all of our buyers and sellers in new and innovative ways,” said Gregory J. Owens, IronPlanet chairman and CEO. “I am confident that our marketplace offerings will enable our sellers to maximize the recovery on assets sold by reaching the right buyers at the right time through channels that are optimized for them. Similarly, our buyers will have access to a broad selection of equipment so that they can manage their inventory on their time frames either in a buy-it-now format or through one of our online or onsite auctions. We will now have access to the broadest choice of late model, low hour Cat equipment drawing larger buyer audiences for all of the equipment for sale in our marketplaces.”

Previously on monitordaily: IronPlanet Acquires Cat Auction Services