News Releases - November 28, 2018

NORTH FRANKLIN, CT (November 28, 2018) – The Venuti brothers—Donald, Michael, Tim, and Peter—started Venuti Enterprises Inc. with their father, Donald Sr., in Killingworth, CT in 1984. For the past 34 years, the family-run operation has been one of the premier excavation and construction companies in the state, but the Venutis have recently decided to close shop and sell all their assets in a one-day Ritchie Bros. unreserved auction on December 17.

"We started selling with Ritchie Bros. in 1990—they provide excellent local customer service and their auctions reach buyers around the world," said Peter Venuti, Vice President of Venuti Enterprises. "We're selling our entire fleet in the December auction. It's all turn-key, well-maintained, and ready to go to work for a new owner. Most of it was purchased new and only worked by my brothers and I."

Venuti Enterprises is one of more than 100 companies set to sell equipment and trucks in the Ritchie Bros. auction in North Franklin, CT on December 17. Highlights include truck tractors, excavators, wheel loaders, dozers, aggregate equipment, material handling equipment, and more—all items will be sold without minimum bids or reserve prices.

"Companies like Venuti Enterprises are so important for the success of state and local infrastructure," said Jason Kirkconnell, Regional Sales Manager, Ritchie Bros. "We are so proud to work with the Venuti family and others like them. We encourage interested buyers to check out the available inventory—either onsite or online—then register for the sale and get ready to bid on auction day."

For more information about the North Franklin, CT auction on December 17, visit rbauction.com/North-Franklin.

About Ritchie Bros.

Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is a global asset management and disposition company, offering customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets. Operating in a multitude of sectors, including construction, transportation, agriculture, energy, oil and gas, mining, and forestry, the company's selling channels include: Ritchie Bros. Auctioneers, the world's largest industrial auctioneer offers live auction events with online bidding; IronPlanet, an online marketplace with featured weekly auctions and providing its exclusive IronClad Assurance(R) equipment condition certification; Marketplace-E, an online marketplace offering multiple price and timing options; Mascus, a leading European online equipment listing service; and Ritchie Bros. Private Treaty, offering privately negotiated sales. The company also offers sector-specific solutions including GovPlanet, TruckPlanet, Kruse Energy Auctioneers, and Cat(R) auctions, plus equipment financing and leasing through Ritchie Bros. Financial Services. For more information about the unprecedented choice provided by Ritchie Bros., visit RitchieBros.com.

Photos and video for embedding in media stories are available at rbauction.com/media.

For more information, please contact:
Ian Malinski
Media Relations Manager
Ritchie Bros.
+1(778) 331-5432
CorpComm@rbauction.com