TBAUCTIONS BUILDS ITS POSITION IN THE EUROPEAN B2B ONLINE AUCTION MARKET WITH ACQUISITION OF EPIC-AUCTIONS
With the acquisition of the Dutch Epic-Auctions TBAuctions further builds its position in the European online auction market. With this expansion, the parent company of Troostwijk Auctions and other online auction brands in Belgium, Norway, Sweden, Denmark and the United Kingdom is taking an important next step in expanding the European online auction market and offering one pan-European platform with broad international reach and a larger bidder base. The activities of Epic-Auctions, which focuses mainly on the B2B agricultural, transport, earthmoving and construction sectors, fit in seamlessly with the specializations that have traditionally been part of Troostwijk Auctions. CEO Herberth Samsom of TBAuctions says: “Epic-Auctions is a great match with our existing business. Their international bidder base is an important addition to accelerate the expansion of our European activities.”
Epic-Auctions annually adds over 10,000 lots, 30 million in hammer turnover, 500 sellers and 3,000 buyers to the growth of TBAuctions. A growth that, in addition to acquisitions in both the Netherlands and Europe, is largely organic. TBAuctions is increasingly becoming the partner of choice for smaller auction houses; “European auction houses are highly interested in joining the TBAuctions group,” says Samsom, the ‘game changer’ is the inhouse built online auction platform Atlas. This technology allows us to quickly integrate other auction houses onto our platform, growing our bidder base and increasing our relevance to sellers. This in turn attracts more bidders: a self-reinforcing effect that ensures that our international market position is becoming increasingly solid.”
Epic-Auctions chooses to join market leader TBAuctions
“Since we started in 2013, we have experienced rapid growth,” explains Frans Maas, CEO of Epic-Auctions. “In order to continue to grow at the same pace, we were faced with the strategic choice of investing and continuing to grow on our own, entering into a partnership with an international player, or being taken over by a market leader who was very interested in our way of doing business. We have opted for the latter. We are pleased that within the TBAuctions group, we can benefit from years of expertise and the international network. In the coming period, we will look at how we will shape our collaboration with our new colleagues.”
About Epic-Auctions
Epic-Auctions focuses mainly on the B2B agricultural, earthmoving, transport and construction sectors. In addition to auctions at its own locations in Breda and Leende, the company organizes auctions at external locations for clients who, for example, are ending their businesses or for traders who organize their own auctions leveraging the Epic-Auctions platform. Thanks to a clear positioning, in-depth sector knowledge and experienced organization, the company has grown in a short period of time to over 50 auctions per year representing combined auction sales of over 30 million euros.
Acquisition mentioned in the media
Read more about this acquisition (in Dutch) in the AD and Cumela.
ABOUT TBAuctions
TBAuctions (TBA) is Europe’s leading online auction platform for B2B used industrial equipment with over 1,000 team members across the Nordics, Benelux +UK, and Continental Europe. We believe that Everything Has Value. With our proprietary intelligent auctioning platform, we make the process of buying and selling more effective and efficient by using technology, artificial intelligence (AI), automation, and economies of scale. TBA’s digital auctions make this happen by creating a cross border platform that offers a perfect match between demand and supply of used business goods. Together with our brands (Auksjonen, British Medical Auctions, DAB, Klaravik, PS Auctions, Troostwijk, and Vavato), TBA brings sustainable trade to a higher level. Sourcing locally and selling globally, millions of products are auctioned every year. Our vision is to be the first and most trusted choice to buy and sell used business assets, maximizing their lifespan and value; accelerating the circular economy. We are passionate about making digital auctioning the best option to create value for B2B sellers and buyers. We seamlessly connect close, easy, and fast sourcing with global demand by multiplying the power of our people, technology, and data. In doing so, we will build a profitable business, reward and develop our people, and extend the lifecycle of assets to reduce waste and emissions.
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