There are changes afoot in the Western Australian equipment auction market with Ritchie Bros. expanding its presence via the acquisition of Smith Broughton Auctioneers.
Ritchie Bros., part of RB Global, has signed an agreement to acquire Smith Broughton Auctioneers and its affiliated company, Allied Equipment Sales, pending satisfaction of closing conditions.
Ritchie Bros. vice-president International Sourcing Finlay Massey says the deal makes good sense.
“Smith Broughton is a respected leader with deep roots in Western Australia,” Massey says.
“By bringing these businesses into the Ritchie Bros. network, we’re strengthening our national capabilities, connecting local expertise with our global marketplace, and delivering greater value and reach for Australian equipment owners.”
Under the agreement, Smith Broughton Auctioneers will continue operating under its established brand with customers to experience no change to current operations or staff, ensuring continuity and a seamless transition.
“This partnership represents the best of both worlds — global scale combined with local service,” says Smith Broughton Auctioneers managing director Darren Smith.
“For more than 40 years, our customers have trusted us to deliver reliable results with integrity. Joining Ritchie Bros. enables us to continue that legacy while opening the door to new markets and opportunities.”
When combined Smith Broughton and Ritchie Bros. would conduct about 150 auctions annually across Australia, supported by a team of about 100 employees.