Langley-based Able Auctions has bought competitor Lougheed Auctions for an undisclosed amount and plans to have auctions in Maple Ridge, the company announced August 29.
Most of Able Auctions’ hundreds of auctions each year are for corporate liquidations.
The company has been around for decades but started expanding through acquisition in 2014 when it bought an auctioneer in Abbotsford. It then bought a competitor in Nanaimo the next year.
Able Auctions plans to use its large base of people who buy items to significantly expand auctions that Lougheed Auctions would have held.
“This purchase adds 50 auctions per year to our calendar and this provides content and traffic to our website: ableauctions.ca,” said Jeremy Dodd, who bought the Able Auctions in 1990 for $10,000.
“More importantly, we gain excellent employees. Good, experienced people in the auction industry are hard to find and even harder to train. We have five great long-time staff in Maple Ridge who will carry on with this operation.”
Able Auctions operates in Langley, Surrey, Abbotsford, Nanaimo, Maple Ridge and Calgary, according to its website.
