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Euro Auctions, Europe's leading auctioneers of industrial plant, construction equipment and agricultural machinery, has acquired one of the USA's oldest and most respected heavy machinery auctioneers, Yoder & Frey, founded 52 years ago and the originators of the now famous annual Kissimmee winter consignment auction in Florida – now in its 43rd year.
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.
The acquisition will see the joint brand 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. Together, the businesses will create a stronger company with expanded capabilities and a brand that a global client base can trust in.
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 the now world famous Kissimmee winter consignment auction in Florida, collectively adding six or seven new sales to the Euro Auction global calendar in 2017 and beyond.
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, CEO 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."
The new venture will see Yoder & Frey provide its loyal customers with a greater number of choices and platforms to buy, sell and dispose of equipment and assets when, where and how they want to, whether that be onsite or online.
Jonnie Keys concluded: "Euro Auctions customers will benefit from exposure to new, enthusiastic and loyal customer base of buyers in the USA looking for good consignments of machinery and equipment from Europe and the rest of the world, especially during the now legendary Kissimmee, Florida Winter Consignment Auction which will run from 6th to 11th February 2017. These are very exciting times for Euro Auctions.
