Ritchie Bros. Acquires New England's Petrowsky Auctioneers

August 3, 2016 - Ritchie Bros. acquired the business of Petrowsky Auctioneers, growing its presence in New England. Ritchie Bros. purchased the Petrowsky’s assets for cash consideration of $7 million, and it has secured employment agreements with current Petrowsky employees.

Based in North Franklin, Connecticut, Petrowsky Auctioneers was founded nearly 40 years ago and sold nearly $50 million worth of equipment and other assets at auctions in 2015, mostly in the New England region. 

Catering largely to equipment sellers in the construction and transportation industries, Petrowsky also serves customers selling assets in the underground utility, waste recycling, marine, and commercial real estate industries. The business operates one permanent auction site in North Franklin, which will continue to hold auctions. It also specializes in off-site auctions held on the land of the consignor.  All Petrowksy auctions are also simulcast live online, allowing online bidders to participate.

The Petrowsky brand will be maintained as a brand extension within the Ritchie Bros. family of brands, given its loyal customer base and reputable brand within its established markets. Sammy Piotrkowski, founder of Petrowsky Auctioneers, will continue to lead this business for Ritchie Bros.