Euro Auctions, auctioneers of industrial plant, construction equipment and agricultural machinery, has acquired American heavy machinery auctioneers, Yoder & Frey.
Euro Auctions said that the acquisition will see Yoder & Frey become a Euro Auctions brand extension, creating a partnership that will see the Yoder & Frey name continue in the USA.
Within the USA, Euro Auctions currently operates a sales site in Atlanta, Georgia. This will be re-branded as Yoder & Frey to strengthen its US portfolio in Ohio, Pennsylvania and its Kissimmee winter consignment auction in Florida, collectively adding six or seven new sales to the Euro Auction global calendar in 2017.
Jonnie Keys, operations manager of Euro Auctions said: “We are extremely excited to announce the merger with Yoder & Frey in the USA as this gives Euro Auctions a strong US brand with which to extend the reach the business has globally and achieve a stronger presence there. Yoder & Frey has achieved a leading position in the US market and strategically within the important Florida region. Working with Peter Clark and his team, we aim to expand the operations in the USA, introducing the American market to the global reach of Euro Auctions, whilst building the brand to the good of both Yoder & Frey and Euro Auctions.”
Peter Clark, chief executive of Yoder & Frey said: “Working with Euro Auctions, the Yoder & Frey brand will gain exposure to a global market place and increased access to a global database of both buyers and sellers. The equipment that comes along with this association will help grow the Yoder and Frey brand. From working with the Euro Auction’s team previously, we are aware of our similar core focus of delivering a quality service and a competitive price, while also never losing sight of our customers’ true needs. I believe it will be a good fit for both companies and look forward to a good start together at the Florida auction from February 6-11, 2017.”