Ritchie Bros to acquire Euro Auctions from Derek Keys for $1.1bn.

Ritchie Bros, a global asset management, disposition, and services company, agreed to acquire Euro Auctions, a plant and machinery auction house, from Derek Keys for $1.1bn. "Ritchie Bros. and Euro Auctions are an ideal fit with a united goal to make asset insights, service offerings and disposition solutions easier than ever. Euro Auctions has an incredibly talented team, with expertise in asset sourcing, auction operations, sales, and customer service. Their 'can do' attitude and entrepreneurial spirit combined with technology has helped them adapt and grow, in much the same way as we have. This acquisition significantly accelerates our strategy to drive revenue and earnings growth and add shareholder value by continuing to expand our capabilities in new channels, sectors, regions, and customer segments," Ann Fandozzi, Ritchie Bros CEO.