Business Roundup: News on Euro Auctions, Yoder & Frey, Ritchie Bros., compact track loader sales, top news stories of 2016

Updated Jan 3, 2017

Year in Review: The Biggest Construction Equipment News Stories of 2016

While everyone has their sights on ConExpo in March, it might be easy to overlook what a busy year 2016 turned out to be. Here’s an quick overview, plus a timeline, of what happened in the construction equipment industry last year. Bonus: check out our editors’ quick predictions for 2017 at the end of the article. (Note: In order to meet our print date, we had  to cut off entries in mid-December, so this report won’t include events after that point.)

Read the full story here.

A construction success story at 30, James MacKay likes “the jobs no one else wants”

When asked to describe how he started in construction, James MacKay laughs. “I got into a little bit a trouble when I was in high school,” he says.

His father, a construction veteran, promptly dropped James off at a friend’s paving job…and that contractor, just as promptly, put him on a jackhammer. But rather than view it as punishment, James now says: “I instantly loved it.”

That introduction set him on his course, and today he oversees a $10 million firm with 60 employees…at the age of 30. And now his father, Tom MacKay, who taught him that lesson about hard work all those years ago, runs his concrete division.

MacKay Construction Services works in Boston and the surrounding suburbs, concentrating on defense construction, colleges and universities, and hospitality jobs, doing concrete, earthmoving, site development…anything his clients want. “I don’t want to turn down work from them,” MacKay says. “Everyone digs dirt or pours concrete, so my clients have to know I give service, that they can call me anytime; It’s how I separate myself from the pack.” It’s a mindset that usually has him on the road by 5 a.m.

Read the full story here.

Euro Auctions acquires heavy machinery auctioneer Yoder & Frey

Euro Auctions, with headquarters in Dromore, Northern Island, has purchased U.S.-based heavy machinery auctioneer Yoder & Frey. Financial details of the acquisition were not revealed.

The company says the action will “create a stable and strategic partnership from which the local market knowledge of Yoder & Frey, combined with the global market expertise of Euro Auctions, will provide greater options when buying and selling their equipment.”

The Euro Auctions sales site in Atlanta will be re-branded as Yoder & Frey in an effort to “strengthen” the Ohio, Pennsylvania and Kissimmee winter consignment auction in Florida. The company says the deal will add six or seven new sales to the Euro Auctions global calendar starting in 2017.

Read the full story here.

 

Terry Dolan exits as president of Ritchie Bros. U.S., Latin America

Terry Dolan will step down from his position at Ritchie Bros. Auctioneers as president of U.S. and Latin America operations effective Dec. 31.

“I would like to thank Terry for his contributions to the company and wish him much success in his future endeavors,” says CEO Ravi Saligram.

The company reports Saligram will take over as interim president for these operations. Plans now are to review the “senior executive leadership structure” related to the IronPlanet purchase, announced in August.

Read the full story here.

INFOGRAPHIC: Compact track loader sales and buyer trends

A snapshot of new and used sales trends for compact track loaders from Randall-Reilly’s Equipment Data Associates and TopBid auction price service.

Read the full story here.