London Daily

Focus on the big picture.
Monday, Sep 15, 2025

Euro Auctions: Brothers delighted with £775m deal for Tyrone firm

Euro Auctions: Brothers delighted with £775m deal for Tyrone firm

The founder of a County Tyrone business that has been sold for £775m has said "it is a fantastic deal for the company".

Euro Auctions in Dromore buys and sells industrial plant, construction equipment and agricultural machinery all over the world.

The firm was set up in Dromore in 1998 by Derek Keys and his brothers.

It has grown to have more than 200 staff across 14 countries.

It was bought by the Canadian company Ritchie Bros.

Last year, Euro Auctions conducted 60 auctions, selling close to 90,000 items for more than £484m.

Brothers Derek and Jonnie Keys said they were delighted for the company

Derek Keys, Euro Auctions' founder, said it was "a great day for myself, from humble beginnings with my father starting out in business".

"I never thought the business would grow to this size and with the help of all the staff here in Dromore it's been great.

"I'm delighted for the company, it's been a good journey and I've enjoyed every day and I look forward to working with Ritchie Bros team."

Jonnie Keys, operations manager at Euro Auctions, said he is delighted for his family and the firm's 200 staff.

"The company is very family orientated and Ritchie Bros originated in the same background - three brothers started the business and they've taken it to a $5.4bn turnover, the largest industrial construction auctioneer in the world," he said.

"There's lots of services that the Ritchie Bros have that we are not able to offer our customers so, going forward, we'll be able to lock these services and bring them to our own customers throughout the world and help the business to grow further."

He said that moving the business to capture an online market helped the company to grow as well.

Founder of Euro Auctions Derek Keys said he never thought the business would grow to this size

"We were one of the first in local auction and business to adopt the whole internet process which stood us in good steed.

"More recently we were able to switch our model at the start of Covid last year and we went straight to online which was a bit of a test in a zone.

"We have auctioneers based in the US and we did the internet bidding here in Dromore so I suppose the company is a technology company as well as an auction company, and that has allowed use to grow and expand very quickly.

Ritchie Bros' chief executive Ann Fandozzi said: "When companies come together it's as much about culture and people and protecting a legacy that has been built by these brothers for 23 years."

The deal is expected to close late 2021 or early 2022.

Newsletter

Related Articles

0:00
0:00
Close
London Daily Podcast: London Massive Pro Democracy Rally, Musk Support, UK Economic Data and Premier League Results Mark Eventful Weekend
This Week in AI: Meta’s Superintelligence Push, xAI’s Ten Billion-Dollar Raise, Genesis AI’s Robotics Ambitions, Microsoft Restructuring, Amazon’s Million-Robot Milestone, and Google’s AlphaGenome Update
Le Pen Tightens the Pressure on Macron as France Edges Toward Political Breakdown
Musk calls for new UK government at huge pro-democracy rally in London, but Britons have been brainwashed to obey instead of fighting for their human rights
Elon Musk responds to post calling for the murder of Erika Kirk, widow of Charlie Kirk: 'Either we fight back or they will kill us'
Czech Republic signs €1.34 billion contract for Leopard 2A8 main battle tanks with delivery from 2028
USA: Office Depot Employees Refused to Print Poster in Memory of Charlie Kirk – and Were Fired
Proposed U.S. Bill Would Allow Civil Suits Against Judges Who Release Repeat Violent Offenders
Penske Media Sues Google Over “AI Overviews,” Claiming It Uses Journalism Without Consent and Destroys Traffic
Indian Student Engineers Propose “Project REBIRTH” to Protect Aircraft from Crashes Using AI, Airbags and Smart Materials
French Debt Downgrade Piles Pressure on Macron’s New Prime Minister
US and UK Near Tech, Nuclear and Whisky Deals Ahead of Trump Trip
One in Three Europeans Now Uses TikTok, According to the Chinese Tech Giant
Could AI Nursing Robots Help Healthcare Staffing Shortages?
NATO Deploys ‘Eastern Sentry’ After Russian Drones Violate Polish Airspace
Anesthesiologist Left Operation Mid-Surgery to Have Sex with Nurse
Tens of Thousands of Young Chinese Get Up Every Morning and Go to Work Where They Do Nothing
The New Life of Novak Djokovic
The German Owner of Politico Mathias Döpfner Eyes Further U.S. Media Expansion After Axel Springer Restructuring
Suspect Arrested: Utah Man in Custody for Charlie Kirk’s Fatal Shooting
In a politically motivated trial: Bolsonaro Sentenced to 27 Years for Plotting Coup After 2022 Defeat
German police raid AfD lawmaker’s offices in inquiry over Chinese payments
Turkish authorities seize leading broadcaster amid fraud and tax investigation
Volkswagen launches aggressive strategy to fend off Chinese challenge in Europe’s EV market
ChatGPT CEO signals policy to alert authorities over suicidal youth after teen’s death
The British legal mafia hit back: Banksy mural of judge beating protester is scrubbed from London court
Surpassing Musk: Larry Ellison becomes the richest man in the world
Embarrassment for Starmer: He fired the ambassador photographed on Epstein’s 'pedophile island'
Manhunt after 'skilled sniper' shot Charlie Kirk. Footage: Suspect running on rooftop during panic
Effective Protest Results: Nepal’s Prime Minister Resigns as Youth-Led Unrest Shakes the Nation
Qatari prime minister says Netanyahu ‘killed any hope’ for Israeli hostages
King Charles and Prince Harry Share First In-Person Moment in 19 Months
Starmer Establishes Economic ‘Budget Board’ to Centralise Policy and Rebuild Business Trust
France Erupts in Mass ‘Block Everything’ Protests on New PM’s First Day
Poland Shoots Down Russian Drones in Airspace Violation During Ukraine Attack
Brazilian police say ex-President Bolsonaro had planned to flee to Argentina seeking asylum
Trinidad Leader Applauds U.S. Naval Strike and Advocates Forceful Action Against Traffickers
Kim Jong Un Oversees Final Test of New High-Thrust Solid-Fuel Rocket Engine
Apple Introduces Ultra-Thin iPhone Air, Enhanced 17 Series and New Health-Focused Wearables
Macron Appoints Sébastien Lecornu as Prime Minister Amid Budget Crisis and Political Turmoil
Supreme Court temporarily allows Trump to pause billions in foreign aid
Charlie Sheen says his father, Martin Sheen, turned him in to the police: 'The greatest betrayal possible'
Vatican hosts first Catholic LGBTQ pilgrimage
Apple Unveils iPhone 17 Series, iPhone Air, Apple Watch 11 and More at 'Awe Dropping' Event
Pig Heads Left Outside Multiple Paris Mosques in Outrage-Inducing Acts
Nvidia’s ‘Wow’ Factor Is Fading. The AI chip giant used to beat Wall Street expectations for earnings by a substantial margin. That trajectory is coming down to earth.
France joins Eurozone’s ‘periphery’ as turmoil deepens, say investors
On the Anniversary of Queen Elizabeth’s Death: Prince Harry Returns to Britain
France Faces New Political Crisis, again, as Prime Minister Bayrou Pushed Out
Murdoch Family Finalises $3.3 Billion Succession Pact, Ensuring Eldest Son’s Leadership
×