Benzinga | Jan 6, 2022 12:27PM EST

NCI, Ritchie Bros. Ink Deal With DCS On Assets Formerly Owned By DBi Services

* Nations Capital, Inc. (NCI), an asset management and advisory firm, together with Ritchie Bros Auctioneers Inc (NYSE:RBA), has agreed to acquire certain assets formerly owned by DBi Services in a transaction with DeAngelo Contracting Services, LLC (DCS). Financial terms were not disclosed.

* The assets include several thousand highway and road maintenance equipment units, including service vehicles, trucks, construction equipment, and miscellaneous support equipment located across the U.S.

* The acquired assets will be consolidated to locations controlled by Ritchie Bros. and NCI. It will be offered to the customer base and interested parties via bulk private sales and auctions.

* "Used equipment pricing remains strong, and we expect to drive robust demand across our omnichannel platform for these assets," commented Jerilyn Nicholsen, SVP, Strategic Accounts, Ritchie Bros.

* Ritchie Bros held cash and equivalents of $468.4 million as of September 30, 2021.

* Price Action: RBA shares are trading lower by 0.05% at $60.74 on the last check Thursday.