RB Global to acquire J.M. Wood Auction Co.

This press release contains forward-looking statements regarding the anticipated benefits of the acquisition and its impact on RB Global’s future performance. These statements are based on current expectations and are subject to risks and uncertainties that could materially affect actual results. For detailed analysis and additional insights about RB Global’s valuation and growth prospects, investors can access comprehensive research and more than 10 exclusive ProTips through InvestingPro’s detailed company report. For detailed analysis and additional insights about RB Global’s valuation and growth prospects, investors can access comprehensive research and more than 10 exclusive ProTips through InvestingPro’s detailed company report.

The move is seen as a strategic enhancement of RB Global’s geographic coverage in Alabama and neighboring states. Jim Kessler, CEO of RB Global, emphasized the alignment of shared values and culture between the two companies, particularly in prioritizing partners and customers. He highlighted that the acquisition brings the Wood family’s experienced sales team and their local relationships into the RB Global fold. The company’s strong financial foundation, with $4.28 billion in revenue and a 23-year track record of consistent dividend payments, supports its expansion strategy.

J.M. Wood, known for its expertise in commercial construction and transportation assets, particularly with municipal customers, is expected to continue operating from its Montgomery, AL, headquarters. Bryant Wood, President of J.M. Wood, expressed enthusiasm for the partnership, citing Ritchie Bros.’ strong industry roots and business integrity. Russ Wood, Vice President of J.M. Wood, pointed out the strategic benefits, including a wider footprint and additional technology, services, and resources that will be available to their buyers and sellers as part of RB Global.

Founded in 1973, J.M. Wood has built a reputation for its innovative approach and personalized professional auction experiences. The company is set to maintain its operational independence and brand identity post-acquisition.

RB Global, known for its omnichannel marketplace and value-added services, facilitates transactions for a wide range of asset classes through its global network and digital platforms. The company’s solutions include Ritchie Bros., IAA, Rouse Services, SmartEquip, and VeriTread.

This press release contains forward-looking statements regarding the anticipated benefits of the acquisition and its impact on RB Global’s future performance. These statements are based on current expectations and are subject to risks and uncertainties that could materially affect actual results.

The information in this article is based on a press release statement from RB Global.

In other recent news, RB Global, Inc. reported fourth quarter earnings that exceeded analyst expectations, with revenue rising 10% year-over-year to $1.14 billion, surpassing projections of $1.06 billion. The company’s adjusted earnings per share reached $0.95, beating the consensus estimate of $0.79. For the full year 2024, RB Global’s net income doubled to $412.8 million, and adjusted EBITDA increased 26% to $1.3 billion. BMO Capital Markets responded to these strong results by raising its price target for Ritchie Bros to $120, maintaining an Outperform rating, and highlighting the company’s robust fourth-quarter performance. BMO analysts anticipate growth in the second half of 2025, despite a potentially slower start to the year. Similarly, RBC Capital Markets increased its price target for Ritchie Bros from $107.00 to $116.00, also maintaining an Outperform rating. RBC emphasized the company’s consistent outperformance and solid forward-looking guidance. Both firms express confidence in Ritchie Bros’ potential for continued growth and profitability as the company progresses towards its 2025 financial goals.

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