Ritchie Bros. Completes Acquisition of J.M. Wood Auction Co.
RB Global Inc. announced 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 to 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,” said Jim Kessler, CEO 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.
“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, Ala., 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.
About the Author
Michael Roth
Editor
Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.