Fifty-year-old company chooses Ritchie Bros. for retirement auction in North Dakota

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Oct 24, 2017, 12:35 ET

Gratech Company, LLC will sell all its construction assets in a Ritchie Bros. auction on Nov. 7 – 8

MINOT, ND, Oct. 24, 2017 /PRNewswire/ - Harley and Nancy Neshem took over the Gratech Company from Harley's father in 1968 and have never looked back. In their 50-year history they've had a hand in building or rebuilding over 800 miles of North Dakota highways. They've also worked on various highway and industrial projects in South Dakota, Montana and Minnesota. After five decades in business the couple is retiring, selling all their construction assets with Ritchie Bros. Auctioneers on November 7 – 8 in North Dakota.

"We're selling everything—loaders, graders, scrapers, excavators, truck tractors, service trucks and more—anything a highway or industrial contractor would need," said Harley E. Neshem, owner and president of Gratech. "We've always taken great pride in our equipment with a first-class, in-house maintenance program. We do our own overhauls, fabrication, machining, tire work, etc. So, on top of all the equipment, we'll be selling a massive selection of tools and shop equipment."

More than 1,750 items will be sold in the two-day auction, which includes equipment from multiple owners. Day One of the auction (Nov. 7) will be a live auction in Minot, ND (2800 4^th Ave SE) to sell all heavy equipment and trucks. Day Two will be an online-only Timed Auction, to sell all the lighter equipment, tankers, shop vans, parts, supplies and shop equipment, held at Gratech's equipment yard in Berthold, ND (8201 282nd St. NW).

"It's a big responsibility to hold a retirement auction for a company—it's something we take very seriously," said John Beasley, Regional Sales Manager, Ritchie Bros. "Harley and Nancy and their family, including daughter and son-in-law Carey and Terry Burke, have built an amazing company and an outstanding fleet. Their maintenance program is second-to-none. I encourage interested bidders to come check out the gear for themselves—every item will be sold without minimum bids or reserve prices."

The Neshems are long-time members of Associated General Contractors (AGC) and the Land Improvement Contractors Association (LICA). Harley has served as president of both North Dakota LICA and AGC chapters and has chaired several national AGC committees. Terry Burke served as president of the state's AGC chapter in 2016.

For more information about the November 7 – 8 auction, visit rbauction.com.

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® equipment condition certification; EquipmentOne, an online auction marketplace; 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^®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.