It was an unusually sunny day in Dromore, Northern Ireland, back in March 1998 when Euro Auctions held its first ever machinery auction. The one-day auction had 371 lots ranging from quad bikes to tractors. Approximately 1500 people attended, keen to see the new American parade-style auction in Ireland.
Euro Auctions was founded by two brothers from a Dromore farming family, Derek and Jonnie Keys. In that start-up year they organised two auctions of vehicles, plant machinery and other construction equipment, in the following years they set up auction bases in England with a key site in Leeds and by 2012 there were 22 auction bases around the world.
By paying close attention to buyer habits and economic patterns on a global scale, they made a number of profitable decisions to build the company; expanding into Australia at the peak of demand for mining industry plant auction sales, and setting into place logistical essentials like installing a hyper-rapid broadband system linked to a transatlantic fibre-optic cable at the headquarters in Dromore for international online auction sales.
Now in 2017, Euro Auctions are Europe’s leading auctioneers of industrial plant, construction and agricultural machinery and the company has just stepped up a gear again by acquiring USA heavy machinery auctioneer giant, Yoder & Frey.
Respected US company Yoder & Frey was founded 52 years ago and are the originators of the famous annual Kissimmee winter consignment auction in Florida.
Euro Auctions says the action will “create a stable and strategic partnership from which the local market knowledge of Yoder & Frey, combined with the global market expertise of Euro Auctions, will provide greater options when buying and selling their equipment.”
The venture will see Yoder & Frey become a Euro Auctions brand extension, creating a strategic partnership that will see the Yoder & Frey name continue in the USA with additional global reach and support from Euro Auctions. For example, Euro Auctions will rebrand its existing Atlanta auction base as Yoder & Frey to help strengthen their portfolio in Ohio and Pennsylvania.
Jonnie Keys had this to say on the acquisition: “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, CEO of Yoder & Frey comments: “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.”
Euro Auctions next featured auction will be at their Leeds UK base – with a range of cars, jeeps and construction machinery on sale. Check out the Leeds auction page or view the full auction schedule for the year to find a Euro Auctions plant machinery auction near your part of the world.
