Euro Auctions: Tyrone firm buys Canadian industrial equipment company

County Tyrone company Euro Auctions says it intends to expand its north American operations.

By John CampbellA County Tyrone-based industrial machinery firm has bought a Canadian business in a deal aimed at expanding its north American operations.

Euro Auctions buys and sells industrial plant, construction equipment and agricultural machinery all over the world. It has bought Canadian industrial equipment and automotive auction company Michener Allen Auctioneering.Euro Auctions founder Derek Keys said he "always kept a keen eye" on the Canadian market with the ambition of one day entering it.

Michener Allen has around 50 employees operating from three permanent auction sites in Edmonton, Calgary and Winnipeg.was called off after the UK competition watchdog raised concernsThe Competition and Markets Authority said the proposed purchase by another Canadian firm, Ritchie Bros, would have created a business with a very high market share in the supply of auction services for heavy construction machinery in the UK.

The two companies were unable to reshape the deal in a way which would have allayed the CMA's concerns so it was called off.Recently filed accounts for 2022 show the group holding company, Gardrum Holdings, delivered a pre-tax profit of £33m on turnover of £152m.Related Topics

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