The venture will see Yoder & Frey, founded 52 years ago and the originators of the now famous annual Kissimmee winter consignment auction in Florida, become an extension of the Euro Auctions brand.
The merger will see the joint brand create a stable and strategic partnership, offering customers greater options when buying and selling their equipment.
Yoder & Frey, leading auctioneers of heavy construction equipment, today announced they will join forces with Europe's largest construction machinery auctioneers, UK based Euro Auctions.
The venture will see 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 - become an extension of the Euro Auctions brand. Combining the established US Yoder & Frey name with the global reach and worldwide machinery expertise of Euro Auctions will create a powerful trusted partner for all customers.
The merger will see the joint brand create a stable and strategic partnership, offering customers 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.
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. Through the strategic alliance with Euro Auctions, customers will benefit from exposure to a new, enthusiastic and loyal customer base of buyers, as well as benefiting from a rich pool of consignors who will be looking to send their assets to Yoder & Frey sales in the USA.
The Yoder & Frey brand will continue in the USA, with Peter Clark, CEO of Yoder & Frey, continuing to lead this business for Euro Auctions. Current employees will be retained to see the merger launch and deliver the busy 2017 auction season, including the 43rd Kissimmee, Florida Winter Consignment Auction in early February. Euro Auctions' Atlanta site will be rebranded as Yoder & Frey and added to their portfolio.
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. 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.”
Euro Auctions has been conducting unreserved auctions of industrial plant, construction equipment and agricultural machinery since 1998 and today conducts over 35 major auctions every year around the globe, in six countries and on three continents.
Euro Auctions is market leader in Europe, holding more sales and selling more lots per sale that any other auction house. With its head office located in Dromore, Co. Tyrone, Northern Ireland it has five more permanent auction sites in England, Germany, Spain, Australia and the USA. All sites are fully operational at all times, with permanent offices, auction yards and full time staff. The company also specialises in off-site sales for leading plant hire companies and users, for cessation of trading, retirement sales as well as stock and fleet rotation.
Jonnie Keys, Operations Manager of Euro Auctions comments: “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 has the last word: “The merger will add strength to Yoder & Frey, with greater global reach, whilst retaining the brand heritage of the business. The company will remain locally managed, whilst planning for growth and potential new jobs, making Yoder & Frey a true global brand with access to world markets.”
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