Real estate auction business, AmeriBid, announced Thursday its acquisition of National Commercial Auctioneers and its sister company National Residential Auctioneers.

"The combination of these companies adds great strength and depth to the AmeriBid team," comments AmeriBid CEO Stan Schreyer.

Larry Latham, Stan Schreyer and Stephen Karbelk founded Tulsa-based AmeriBid. Karbelk also founded National Commercial and National Residential Auctioneers. Prior to AmeriBid, Schreyer and Latham served as strategic advisers to both companies.

"With AmeriBid's acquisition of National Commercial Auctioneers and National Residential Auctioneers, we are now able to combine all of the assets and resources into one company so we can deliver best-in-class service to all of our clients," Karbelk said.

The two sister companies will now fall under the AmeriBid brand umbrella.

The acquisition included all processes, customer lists, physical assets, employee agreements and agent agreements.