JM Wood Auction Co. Inc. photo

JM Wood Auction Co. Inc. owners (L-R) are Russ Wood, Kim Wood Cox and Bryant Wood

RB Global Inc. announced it has entered into a definitive agreement to acquire J.M. Wood Auction Co. Inc.

Founded in 1973, J.M. Wood has leveraged its culture of innovation and entrepreneurial thinking to build a strong reputation for providing a personal and professional auction experience for each of its customers. As an extension of that legacy, J.M. Wood will continue to operate as-is and maintain its headquarters in Montgomery, Ala., for the foreseeable future.

RB Global currently expects the acquisition to be completed in the second quarter of 2025, subject to customary closing conditions, including required regulatory clearances.

"Our shared values and culture align naturally, particularly in our commitment to putting our partners and customers first," said Jim Kessler, chief executive officer of RB Global. "This move enhances our geographic coverage in Alabama and adjacent states and brings along the Wood family and their talented team of sales professionals with deep local relationships on board. Together, we are building on a strong foundation to better service our customers."

J.M. Wood focuses on commercial construction and transportation assets and has deep experience with municipal customers.

"We are excited about this new partnership with RB Global and the Ritchie Bros. team," said Bryant Wood, president of J.M. Wood. "Ritchie Bros. has strong roots in the equipment industry and they run their business just like we always have: by doing what we say. Our team is one of the strongest in the industry and we believe this collaboration will be exciting to witness. On behalf of the J.M. Wood family, we are honored to be able to continue this heritage alongside the Ritchie Bros. team for many years to come."

"This endeavor is strategic for both J.M. Wood and Ritchie Bros.," said Russ Wood, vice president of J.M. Wood. "As part of RB Global, Ritchie Bros. offers J.M. Wood a greater footprint along with an infusion of technology, services and resources for our buyers and sellers. Our J.M. Wood team brings along incredibly deep industry knowledge and a hard-working family culture that is aligned with how Ritchie Bros. was founded."

Today's top stories

VIDEO: $1.2B Red River Water Project On Track in N.D.

Thompson Tractor Holds Tech Event in Montgomery, Ala.

Historic Rail Stations in Pa. Towns of Latrobe, Greensburg Plan Upgrades

Skanska Brings Engineering Muscle to Manage Bridge Jobs in Bay State

Volvo Construction Equipment Unveils New Lineup of Articulated Haulers

MaineDOT Busy in 2025 On Multiple Projects; Work Begins On Asian American Gardens

Pirtek USA Partners With The Leaders Institute, Nashville Rescue Mission to Bring Joy for Build-A-Bike Initiative

Trimble Expands Field-to-Office Connectivity for Heavy Civil Contractors