SRZ Represents Starboard in Ritchie Bros. Investment

Schulte Roth & Zabel advised Starboard Value LP in their recently announced $500 million strategic investment in global asset management and disposition company Ritchie Bros. Auctioneers.

The investment includes the purchase of $485 million in newly issuable senior preferred shares and $15 million in common shares by Starboard. In addition, Starboard CEO Jeffrey Smith will join the Board of Directors, contingent on the approval and closing of Ritchie Bros. $7.3 billion planned acquisition of IAA, Inc.

The SRZ team included partners Ele Klein and Adriana Schwartz, special counsel Clara Zylberg, and associates Evan Berger and Sean Brownridge.