Indianapolis-based Key Auctioneers is under new ownership. Krueckeberg Auction and Realty, headquartered in Decatur, has acquired the company, though financial terms of the deal were not disclosed.
Krueckeberg says the acquisition expands its footprint in the Indianapolis market and increases its buyer base by nearly 40,000 buyers.
Key Auctioneers provides a variety of real estate and business asset disposition services, including auctions, appraisals, asset recovery and storage, and liquidations.
Krueckeberg says Key Auctioneers has sold assets worth more than several million dollars annually, which gives it the potential to double its business.
“Krueckeberg Auction and Realty has experienced tremendous growth over the last 10 years. Through the acquisition of Key Auctioneers, we are reaching our full potential, accessing a new market and expanding our services,” Josh Krueckeberg, president of Krueckeberg Auction and Realty, said in a news release.
A spokesperson for Kruekeberg tells Inside INdiana Business all Key Auctioneers employees found other jobs prior to the acquisition, but the company will add jobs as needed as it grows into the Indy market.