Nations Capital & Ritchie Bros. to acquire and sell assets formerly owned by DBi Services from DeAngelo Contracting Services

ALLIANCE, Ohio, Jan. 6, 2022 /PRNewswire/ -- Nations Capital, Inc. ("NCI"), an asset management and advisory firm focused on opportunistic investments and asset remarketing, together with Ritchie Bros. ("RBA"), a global leader in asset management and disposition, announced today that is has entered into an Agreement to acquire certain assets formerly owned by DBi Services in a transaction with DeAngelo Contracting Services, LLC ("DCS"). The assets were recently acquired by DCS and deemed excess to the ongoing needs of its business units.

The assets include several thousand units of highway and road maintenance equipment including service vehicles, trucks, construction equipment and miscellaneous support equipment located across the United States. All assets will be consolidated to locations controlled by Ritchie Bros. and NCI and offered to their customer base and interested parties via bulk private sale and auctions.

"We are very pleased to provide DCS and its management team a comprehensive solution to monetize a substantial portion of the fleet excess to ongoing operations," said Jim Burke, EVP, NCI. "The size and complexity of this transaction required a highly coordinated effort between our team and DCS."

DCS is a national growing infrastructure maintenance and operations company focused on providing quality and safe services for State and Local Departments of Transportation, Railroads, Commercial Companies, and Homeowners. DCS is owned and run by the DeAngelo Family, which has been in the maintenance business since 1978.  Paul DeAngelo, CEO and Founder of DCS noted, "We are very excited about this transaction with NCI and Ritchie Bros.  It helps us move excess equipment into the market and get it back to work building and maintaining the Nation's vital infrastructure."

"We are already transacting on bulk private treaty sales and will be offering a large portion of the fleet for sale through our various marketplaces, including several live, public auctions scheduled for Q1," added Jerilyn Nicholsen, SVP, Strategic Accounts, Ritchie Bros. "Used equipment pricing remains strong and we expect to drive robust demand across our omnichannel platform for these assets."

Anyone interested in the purchase of this equipment can find additional detail through:

www.ritchiebros.com 
www.nationscapitalinc.com

About Nations Capital, Inc.

NCI is a strategic partner to companies and clients across a wide range of commercial and industrial sectors, with a particular focus and expertise in finance, restructuring, and insolvency. We provide capital, advisory services and infrastructure to guide our clients through change and growth.

About Ritchie Bros.

Established in 1958, Ritchie Bros. (NYSE: RBA) (TSX: RBA) is a global asset management and disposition company, offering customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets. Operating in a number of sectors, including construction, transportation, agriculture, energy, mining, and forestry, the company's selling channels include: Ritchie Bros.Auctioneers, the world's largest industrial auctioneer offering live auction events with online bidding; IronPlanet, an online marketplace with weekly featured auctions and providing the exclusive IronClad Assurance® equipment condition certification; Marketplace-E, a controlled marketplace offering multiple price and timing options; Ritchie List, a self-serve listing service for North America; Mascus, a leading European online equipment listing service; Ritchie Bros. Private Treaty, offering privately negotiated sales; and sector-specific solutions GovPlanet, TruckPlanet, and Kruse Energy. The Company's suite of solutions also includes Ritchie Bros. Asset Solutions and Rouse Services LLC, which together provides a complete end-to-end asset management, data-driven intelligence and performance benchmarking system; SmartEquip, an innovative technology platform that supports customers' management of the equipment lifecycle and integrates parts procurement with both OEMs and dealers; plus equipment financing and leasing through Ritchie Bros. FinancialServices. For more information about Ritchie Bros., visit RitchieBros.com.

Media Contact: James Burke, jburke@nationscapitalinc.com

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SOURCE Nations Capital, Inc.