We are very excited to announce that Ritchie Bros. has entered into an agreement to acquire Euro Auctions, a leading heavy machinery auctioneer in EMEA. This acquisition, which is expected to close in the first quarter of 2022, will see our two brands working together to make asset management and disposition easier than ever, with solutions and services for every situation.
Founded in 1998, Euro Auctions conducts unreserved heavy equipment auctions with onsite and online bidding under the brands Euro Auctions and Yoder & Frey. In 2020 the company conducted 60 auctions, selling close to 90,000 items across its nine locations in Germany, Spain, Northern Ireland, the United Kingdom, the United Arab Emirates, Australia, and the United States. Similar to Ritchie Bros., Euro Auctions also sells items through a timed auction format and a daily marketplace with Buy Now and Make Offer options.
Between our two great companies there is 88 years of experience, an amazing customer-focused team, state-of-the-art auction sites, innovative online platforms, along with a suite of different solutions and services. As our customer, you’ll be able to access it all.
For the next several months, while we await regulatory approval, it will be ‘business as usual’ for our customers as we remain two separate businesses. However, we will be planning our integration so we can hit the ground running once the transaction closes. For more information on the acquisition of Euro Auctions, visit our information page.
Together with Euro Auctions, we look forward to serving you and your business in new, powerful ways. Thank you for your support and continued business.
Sincerely,
Ann Fandozzi
CEO, Ritchie Bros.
