Turning used and unused stuff into resilient gold
While mapping companies within the circular economy industry, there was one that kept showing up. The same name came up in discussions with an M&A advisor. PS Auction. Soon we met up with the owners and the management team and felt we were pretty much in sync. Both in terms of values and possibilities. After some thorough, productive workshops together, we decided to join forces with PS Auction in September 2020. The growth journey was about to begin.
PS Auction was founded in 1958. It had developed from a local auctioneer to a leading online auction site. They sell e-commerce returns, bankruptcy stock, unused machines, used and new vehicles and large excess inventory.
This is a family owned company. It hired its first external CEO seven years ago. His name is Per Henriksson. By using his experience from eBay, Per and the team transformed the business into a strong, trustworthy digital brand. A solid digital platform, onboarding an impressive number of good products. While many business models out there are challenged these days, PS Auction is thriving and growing. Not only does the company provide important value within the circular economy, it is also resilient in cyclical times.
PS Auction has a team of 50 people based in Svenljunga, 100 km southeast of Gothenburg in Sweden, with offices across the country.
On this journey, we will definitely use our experience from previous investments in digital services and e-commerce companies. A sound growth will come organically as well as and through partnerships. One of the keys to succeed I believe lies in this balancing act; a strong inflow of goods that matches well what the site visitors are interested in.
The team is joined by two experts; Mikael Lindahl, Head of Growth at Pricerunner, experienced in digital business models, and Joacim Olsson, the CEO of Aktiespararna, with strong management and communication skills. Mikael and Joacim are in the Board of Directors and have – along with us, Per Henriksson and the management team – invested in the company.
This is going to be an exciting journey!