Ritchie Bros. has completed its acquisition of J.M. Wood Auction.
The deal will grow the companies’ offerings to customers in Alabama and adjacent states in the US.
“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, 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.
Founded in 1973, J.M. Wood has built a strong reputation in the region and will maintain its Montgomery headquarters, in-person auction format and leadership team, backed by the global reach and resources of Ritchie Bros.
“This is a strategic move that enhances what both organizations do best,” Kessler said. “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.”