With the acquisition of the Dutch Epic-Auctions, the online auction platform TBAuctions further builds its position in the European online auction market.
- Eleventh acquisition in three years.
- TBAuctions auction sales growth from €300 million in 2018 to €1,1 billion last year.
- Dutch Epic-Auctions important addition to international bidder base.
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. TB Auctions 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.”
Epic-Auctions focuses mainly on the B2B agricultural, earthmoving, transport and construction sectors. In addition to auctions at its own locations in Leende and Breda, 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. For more information go to www.epic-auctions.com
TBAuctions is a leading online B2B auction platform and marketplace for second-hand and second-chance goods, operating under the brands Troostwijk Auctions (Europe), Klaravik (SE/DK), Vavato (BE), British Medical Auctions (UK), Auksjonen.no (NO) and PS Auctions (SE). TBAuctions auctions movable and immovable property on behalf of third parties via Atlas, its own IT platform for intelligent auctions (IA). With more than 13,000 auctions per year and more than 10 million website visits per month, TBAuctions is one of the largest online auction platforms in Europe. For more information go to www.tbauctions.com
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