Headquarter: Netherlands

Revenue: +€180m

Investment Date: January 2022

Business overview

TBAuctions is a leading online auction platform and marketplace for used industrial goods.

The company was created in 2018 via the merger of two established auction houses. It auctions movable and immovable goods on behalf of third parties through ATLAS, its proprietary IT platform for intelligent auctioning (IA). With over 2 million lots and over 125 million website visitors per year, TBAuctions is one of the largest online auctioneers in Europe. Core verticals include Construction, Transportation & Logistics, Agriculture, as well as Medical

TBAuctions plays an important role in the global move towards a circular economy. Sustainable consumption – which TBAuctions is actively driving through finding new homes for second hand and second chance goods – is at the heart of the global ESG agenda.

+2m lots auctioned annually

+125m website visits annually

+750k unique bidders

Deal description

Castik Funds partnered with management to support the next growth phase of TBA. Management and Castik will continue to strengthen TBA´s excellent market position within existing geographies and verticals, while accelerating organic growth and increasing the pace of add-on acquisitions to build the leading pan-European auction house.

A key element to success will be the state-of-the-art, scalable IT platform called ATLAS, which enables the business to scale and integrate future acquisitions across Europe seamlessly.

Investment highlights
  • State of the art auction platform called ATLAS
  • Excellent reputation within today’s core markets
  • Strong underlying growth driven by healthy underlying market growth of used equipment sales, a continued shift towards auctions as a channel, and growing online penetration
  • Platform effect: Highly defensible business model due to importance of network effect of a platform creating strong entry barriers for new providers
  • Large, diversified and sticky seller and buyer base
  • Fragmented competitive environment with room for consolidation