Plant & Equipment (P&E), the global heavy equipment marketplace, has secured asset-backed financing to expand its auction platform and boost equipment availability in key emerging markets like Iraq.
The investment will help to acquire high-quality, inspected equipment from rental fleets, contractors, and other end users, broadening the range of machinery available through PlantAndEquipment.com.
Since its launch in December 2023, the UAE-based company has rapidly expanded into the Middle East, Africa, and global markets, providing cross-border equipment sales and remarketing services.
According to the company, Iraq will also profit from the growth, as Plant & Equipment has supplied earthmoving equipment to support the country’s expanding infrastructure and construction sector, including secondhand Hitachi excavators and Kawasaki wheel loaders.
Outside of Iraq, P&E has a significant presence in the Gulf Cooperation Council (GCC) and Africa, with big equipment sales in markets such as Kenya, Tanzania, and Egypt, reflecting rising demand for construction and industrial machinery in emerging economies.
Plant & Equipment increased its footprint in 2024 by acquiring Global Equipment Trading (GET) and constructing a logistics center in Dubai’s Jebel Ali Free Zone, thereby enhancing its skills in equipment acquisition, inspections, storage, and international logistics.
Iraq is also investing in roads, housing, ports, energy, and industrial developments, and demand for heavy equipment is expected to remain robust.
Companies like Plant & Equipment are ideally positioned to play a larger role in delivering machinery to one of the region’s fastest-growing construction markets.
