SALE OF BVA AUCTIONS TO BENCIS CAPITAL PARTNERS
Advisor to buyer
The shareholders in BVA Holding B.V. have sold their interest in BVA Auctions to Bencis Capital Partners.
Together with the management team, private equity firm Bencis acquired the entire equity interest of BVA Auctions, as well as all shares in I-deal Overstock.
BVA Auctions, founded in 2003 by director Paul Blees, is an online auction house, offering (movable) property at auction over the internet. BVA Auctions is active in a number of product-market combinations (consumer auctions, automotive, real estate, etc.). Although BVA’s insolvency auctions are frequently in the news, this category represents only one third of the auction sales. BVA Auctions increasingly auctions merchandise for parties who seek to reduce their inventories or asset base.
Partners of BVA Auctions include Domeinen Roerende Zaken, DTZ, Heftruckveiling and Marktplaats. With an average of 30,000 lots per week and governments, organizations such as UNHCR, banks, trustees, leasing companies, industries and businesses as its customers, BVA Auctions is currently the largest online auction house in The Netherlands.
Hemingway Corporate Finance acted as exclusive financial advisor to Bencis.
