TBAuctions and Swedish Klaravik to join forces to meet demand in the European online auction space
TBAuctions, a Summa Equity portfolio company and the parent company of multiple online auction platforms, including Troostwijk Auctions (B2B) and BVA Auctions (B2C), is joining forces with Klaravik AB, based in Karlstad, Sweden. This intended merger complements the European growth ambitions of both TBAuctions and Klaravik to become one of the leading online auction platforms in Europe. The declaration of intent was signed Friday, May 27th.
A perfect match
Ten years ago, Klaravik developed a distinguished online auction platform built on a unique sourcing model and sales organization. Working intensively with regional sales agents / auction brokers, who have a unique position due to the great trust from end-users in their market, Klaravik makes it simple to bring goods to auction, thus bridging the gap between end-users. Klaravik is a leading online auction provider with a focus on voluntary machinery auctions in Sweden and Denmark, and for some time have been looking for a growth partner with an established presence in countries with a significant potential for its value proposition, namely the Nordics, Germany (DACH) and the Benelux. Christian Lenander, founder and CEO of Klaravik, says:
”We are thrilled about this endeavour, as expanding internationally is the natural next step for Klaravik. TBAuctions and Klaravik share the same ambition in becoming leading players in the online auction space. For us this is a perfect match”.
Sustainability as driving force
TBAuctions is actively driving sustainable consumption by finding new demand for second-hand and second-chance goods – this is at the heart of the global ESG agenda. Herberth Samsom, CEO of TBAuctions, says:
“In these unparalleled times, we are facing a scarcity of machinery and equipment availability due to supply chain disruptions. TBAuctions, with all its brands in many European countries, is the online platform that brings together supply and demand in Europe and beyond, in the most sustainable way”.
European roll-out of Klaravik
Headquartered in Karlstad, Sweden, Klaravik is one of the largest online auction houses for used machinery and process equipment. The Klaravik website gets more than 25 million visits per year, with about 70.000 lots auctioned annually. Christian Knutsson and Christian Leander (co-founders of Klaravik) strongly believe that the European online auction space has entered an accelerated growth phase as the best sales channel for second-hand and second-chance goods, and that TBAuctions is the logical partner for them to realize their ambitions. TBAuctions and Klaravik found each other in their respective ambitions to further grow the auction space in Europe and to roll out Klaravik’s model in many countries. This year TBAuctions, which recently closed the acquisition of PS Auction and Auksjonen.no, both players in the Nordics, will, together with Klaravik, achieve hammer sales of almost 1 billion euros.
Long term investment in sustainability
Funds managed by Castik Capital are the majority owners of TBAuctions, with Summa Equity as the minority shareholder. We both strongly believe that the European online auction space needs an innovator with growth potential, as scaling up accelerates the options for buyers and sellers in all markets, where the importance of a circular economy is seen as crucial.
Klaravik online auctions is one of the leading players in Sweden and Denmark, focusing on used equipment and heavy machinery. Klaravik has been the inventors of the “Local Auction broker” concept, which is a key success factor for high penetration of the local markets. Through voluntary sales in used goods within construction, agriculture, forestry, transportation, and equipment, employing 190 persons and with 390 000 registered bidder accounts, Klaravik represents a truly circular business.
TBAuctions is one of the leading online auction platforms and marketplace for second hand and second chance goods, operating through the brands: Troostwijk Auctions (headquartered in NL), BVA Auctions (NL), Vavato (BE), British Medical Auctions (UK), Auksjonen.no (NO) and PS Auctions (SE). TBAuctions auctions movable and immovable goods on behalf of third parties through ATLAS, its proprietary IT platform for intelligent auctioning. With over 2.7 million lots per year and over 10 million website visits per month, TBAuctions is one of the largest online auctioneers in Europe.