Heavy machinery platform Plant & Equipment acquires UAE’s Global Equipment Trading
The acquisition is part of Plant & Equipment's expansion strategy in the GCC and Mena regions.
UAE-based construction-tech company Plant & Equipment has acquired Global Equipment Trading for an unknown sum.
The acquisition is part of Plant & Equipment's expansion strategy in the GCC and MENA regions, according to Wamda.
With the acquisition of Global Equipment Trading, Plant & Equipment plans to accelerate its drive to become a multi-channel business, offering customers access to buy, sell and advertise equipment locally and online.
The acquisition aims to further strengthen Plant & Equipment's position in the market. It employs industry-leading equipment verification, inspection reports and payment security measures for both buyers and sellers involved in the process of buying and selling heavy equipment and trucks.
Plant & Equipment, founded in 2018 by brothers Saleh and Zayd Kuba, is a construction equipment marketplace that facilitates the exchange of buyers and sellers in the industry. It offers sellers the flexibility to choose between auction or classified listings.
The company launched P&E Auctions in May 2023 as an online auction platform in the Middle East and North Africa region, focusing on accumulating consignments and advertising heavy equipment for buyers in the Gulf, Levant, Africa, and Asia.
The live auctions cover construction, logistics, agriculture, and mining categories, with all lots inspected and verified by the P&E Auctions team for quality and reliability.
Buyers can register or inspect consigned machines in person at Global Equipment Trading FZE, located near Gate 5 of Jebel Ali Free Zone, or explore Plant & Equipment's website.
Plant & Equipment expects the acquisition to create opportunities to collaborate and grow in the construction market.
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Edited by Kanishk Singh