Clearwater International advises Klaravik on its majority sale to TBAuctions
Clearwater International has advised Klaravik, a leading online auction platform, on its majority sale to TBAuctions, the Netherlands-based group of online auction companies including Troostwijk Auctions, BVA Auctions, PS Auctions and Auksjonen, to support the company’s growth and European expansion. This intended merger complements the European growth ambitions of both TBAuctions and Klaravik to become one of the leading online auction platforms in Europe.
Ten years ago, Klaravik developed a distinguished online auction platform built on a unique sourcing model and sales organisation. 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 a period of time has 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.
TBAuctions is actively driving sustainable consumption by finding new demand for second-hand and second-chance goods, which is at the heart of the global ESG agenda.
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 annually, 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 realise their ambitions. TBAuctions and Klaravik found each other in their respective ambitions to grow further the auction space in Europe and 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 €1bn.
Funds managed by Castik Capital are the majority owners of TBAuctions, with Summa Equity as the minority shareholder. They 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.