TBAuctions, a European online auction platform majority-owned by Castik Capital and Summa Equity, has acquired PS Intressenter AB (PS Auction), a leading Swedish online auction company. The transaction was announced on March 17, 2022, with completion expected in April of the same year.
| Acquirer | TBAuctions (SE) |
| Target | PS Intressenter AB (PS Auction) (SE) |
| Deal Type | Acquisition |
| Deal Value | Undisclosed |
| Stake Acquired | <50% |
| Closing Date | April 2022 |
| Announcement Date | March 17, 2022 |
| Buy-Side Advisors | Citi, LUMA Partners |
| Sell-Side Advisors | <not disclosed> |
| Legal Buy-Side Advisors | <not disclosed> |
| Legal Sell-Side Advisors | Vinge |
Deal Mechanics
TBAuctions, with the backing of Castik Capital and Summa Equity, has entered into an agreement to acquire PS Auction. This strategic move is designed to consolidate TBAuctions' position as a leading player in the Nordic auction market.
Strategic Rationale
The acquisition aims to enhance TBAuctions' technological capabilities and expand its footprint within Scandinavia, complementing the company’s existing brands Troostwijk Auctions (B2B), BVA Auctions (B2C), Vavato (Belgian brand), and British Medical Auctions.
PS Auction's integration with TBAuctions' platform ATLAS will provide an advanced technology infrastructure to support scalable growth in the divestment, surplus, and returns segments. This consolidation is expected to create a more robust online marketplace for buyers and sellers across multiple sectors.
Financial Context
The deal value was not disclosed, but MVI Fund II AB sold PS Auction as part of its broader strategy to consolidate the Nordic auction market under TBAuctions' umbrella. The acquisition is contingent upon regulatory approval and works council consent.
Advisors
Citi and LUMA Partners acted on behalf of the buyer, while Vinge represented PS Auction in legal matters. MVI Fund II AB advised PS Auction internally without disclosing specific sell-side advisors.
Outlook
TBAuctions expects to leverage its technology platform ATLAS to drive synergies and operational efficiencies with PS Auction. The integration is anticipated to solidify TBAuctions' leadership in the Scandinavian auction market, positioning it as a key player for sustainable circular trade practices.