RB Global, Inc. has announced that its wholly owned subsidiary, Ritchie Bros. Auctioneers (America), Inc., has completed its acquisition of J.M. Wood Auction Co., Inc.
Together, the companies will use their deep industry knowledge, strong heritage, and talented teams to enhance their service offerings available for customers in Alabama and adjacent states.
“Both Ritchie Bros. and J.M. Wood have spent decades building trust through integrity, relationships, and a deep understanding of customers’ businesses,” explained Jim Kessler, Chief Executive Officer of RB Global. “We’re thrilled to welcome their team and collaborate to preserve their deep industry expertise, regional and sectoral strength, and customer-focused legacy while also tapping into Ritchie Bros.’ global network, digital capabilities, and suite of value-added services.”
He continued: “This is a strategic move that enhances what both organizations do best.
“With J.M. Wood’s regional expertise, sectoral strength, and customer relationships, and Ritchie Bros.’ scale and technology, we’re bringing together the best of both worlds to create even more opportunities and deliver even more value for our customers.”
Founded in 1973, J.M. Wood has leveraged its culture of innovation and entrepreneurial thinking to build a strong reputation for providing a personal and professional auction experience for each of its customers.
Backed by the global reach, technology, and resources of Ritchie Bros., J.M. Wood will maintain its Montgomery headquarters, in-person auction format, and leadership team. The company’s legacy, values, and approach to business now have the benefit of more scale and service for customers.
RB Global is a leading omnichannel marketplace and trusted provider of value-added insights, services, and transaction solutions for buyers and sellers of commercial assets and vehicles worldwide.
Through its global network of auction sites and digital platform, RB Global serves customers worldwide across a variety of asset classes, including automotive, construction, commercial transportation, government surplus, lifting and material handling, energy, mining, and agriculture.
The company’s end-to-end marketplace solutions include Ritchie Bros., IAA, Rouse Services, SmartEquip, VeriTread, and now J.M. Wood. For more information, visit www.rbglobal.com, www.rbauction.com, and www.jmwood.com.