IRONTRAX - Key Persons

Job Titles:

• Member of the Leadership Team
• Director of Appraisals
• Valuation Director

A veteran of the construction, heavy machinery and trucking industry for more than 30 years, Joe Santora has walked in the shoes of his clients. He understands the methodology for valuation as well as the equipment itself. So in 2003, he launched Irontrax LLC, offering his uniquely qualified professional services - with decades of first-hand experience in all aspects of the trade - to those seeking asset management, consulting, appraisals and remarketing of bank-owned construction, trucking and mining equipment. The company also handles lease-end negotiations, workouts and litigation consultation. Today, the former one-man-operation has grown into a team of highly-regarded industry experts servicing North American, Canadian and Caribbean clients. David is an Accredited Senior Appraiser with the American Society of Appraisers. He earned his accreditation in May of 2006 and currently holds reaccreditation status until May 2023. His professional education includes the following American Society of Appraisers Courses; ME201: Introduction to Machinery and Equipment Valuation, ME202: Machinery & Equipment Valuation Methodology, ME203: Machinery & Equipment Valuation - Advanced Topics & Case Studies, ME204: Machinery & Equipment Valuation - Advanced Topics & Report Writing, and SE100: 15-Hour Uniform Standards of Professional Appraisal Practice (USPAP.) He has also participated in the following Machinery & Technical Specialties Conferences: The Appraiser as an Expert Witness, Basic Machinery Identification, Multidisciplinary Cost Approach Seminar, and the first, second, third, forth, fifth, and sixth Annual Equipment Valuation Conferences.

Job Titles:

• Founder
• Member of the Leadership Team
• President

Job Titles:

• Member of the Leadership Team
• Director, Construction Division

Vince Lorenz was raised working in the construction equipment business. One of five brothers, his family owned and operated a construction equipment dealership for over 70 years in Columbus, Ohio. He grew up working side-by-side with mechanics, truck drivers, parts representatives and business owners looking to service, rent or purchase heavy equipment…all the time learning the equipment from the inside out.After obtaining a business degree from the University of Dayton, Vince started his professional career already head of most in the industry. His hands-on experience landed him jobs with two different Caterpillar dealers, where his work included evaluating, pricing, selling and leasing heavy equipment.With a solid foundation appraising everything from a single trade-in to whole fleets of equipment, Vince went to work for the world's largest industrial auctioneer, Ritchie Bros. Auctioneers. During his time at Ritchie Bros., Vince expanded his wealth of knowledge to hundreds of different makes and models of trucks and equipment. He achieved sales of more than $125 million and was the recipient of performance awards recognizing his knowledge and drive. Importantly, Vince also gained substantial valuation experience. Understanding equipment values was a key aspect of his job and he became an expert at factoring in age, usage, condition, repairs needed and other underlying factors before calculating value based on supply and demand. A perfect mix of innate understanding, research, contacts in the industry, and knowledge of current market conditions allowed Vince to accurately and effectively assist customers with their equipment disposition needs. Throughout his career, Vince's experience has taken him to hundreds of construction sites, contractor shops, oil & gas pipeline jobs, and quarries. He understands current market conditions and best appraisal practices for heavy equipment and maintains relationships with industry contacts throughout the Unites States.His work with Irontrax includes field appraisals that range from individual items to entire fleets, working with equipment owners, banks and equipment leasing companies. Specialty areas for Vince include trucking, mining, construction and the oil and gas pipeline industry.When not on the road or working on an appraisal report, Vince and his wife organize 5K running races throughout the Mid-Atlantic region. They enjoy fishing, water sports, hiking and skiing. Financial analysis and complex valuation projects are second nature to David. His experience includes 25+ years working for a national commercial bank, managing all aspects of Equipment, Inventory, and other Personal Property valuations. He oversaw operations of the bank's Equipment Appraisal Services Team, including prioritization of workflow, assignment of projects, assurance of quality and accuracy of appraisal conclusions and reporting, Enterprise Third Party Management engagement requirements, and other administrative tasks. He managed appraisal requests by soliciting fee proposals, analyzing bids for cost and timing, engaging outside appraisal firms, and reviewing reports for Uniform Standards of Professional Appraisal Practice (USPAP) compliance. He also performed full scope, & desktop appraisals, and provided council and recommendations to Chief Credit Officers, Portfolio Managers, Underwriters, and Relationship Managers regarding industry conditions and equipment valuation trends.