Euro Auctions, which deals predominantly with the resale of construction equipment and agricultural machinery, has acquired the US auction house Yoder & Frey.
The US firm, which carries out half a dozen major auctions each year, will continue to operate with its original name.
Northern Ireland-based Euro Auctions – which currently operates one US site, in Atlanta, Georgia – is expected to rebrand the site as Yoder & Frey, and will look to expose the Yoder & Frey brand to the international market.
Jonnie Keys, operations manager of Euro Auctions said the acquisition would give Euro Auctions “a strong US brand with which to extend the reach the business has globally and achieve a stronger presence there.”
He said, “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.”