MVI has acquired a majority stake in PS Auction (Company website) - a company active in the circular economy. With a digital auction platform, PS Auction promotes the reuse of a wide range of products, including used and unused machinery, tools, electronics, furniture and consumer products. PS Auction has been active in the auction business since 1958, with a base in bankruptcy auctions, and was early to digitise its operations.
In 2013, PS chose to clarify its focus with a business model that enables companies to work more sustainably. The company is now present throughout Sweden and in 2020 it expects gross sales of around SEK 400m in the Nordic region and Europe with good profitability.
During the spring, PS has been looking for a partner for accelerated growth of its circular economy offering. In this process, MVI presented itself as an active stakeholder and on 15 September a partnership was signed, with MVI entering as a growth investor alongside PS's previous owners and management. The company has established a leading position in the market for circular products and online auctions, and can now take the next step in its growth journey.
Over the past few years, MVI has been researching the market for circular services, and had already identified PS Auction as a potential partner before the process. When the opportunity presented itself, MVI was able to act quickly to establish a business plan with the management team. In this process, experienced board members with relevant backgrounds have also been added to the company, who will support the partnership with their expertise.
"In 2019, the pieces of the puzzle fell into place for the company we have wanted to build for a long time. This has been demonstrated in 2020 and we have delivered a fantastic year so far. We now have a strong concept and it's time to take the next step, which I look forward to taking together with MVI," says Per Henriksson.
The strategy that permeates the business plan developed is circular growth, and to deliver sustainable services for a variety of customers in Sweden, and later in the Nordic region. Growth will be achieved through organic initiatives and internal business development, with MVI working closely with management and the company.
"We see ourselves primarily as entrepreneurs, which is one of the reasons for our interest in PS Auction: a family-owned company that has continuously taken the next step in its development, while maintaining a strong local presence. We want to preserve the soul of the company while focusing on growth," says Stefan Karlsson, partner at MVI.
MVI is an active growth investor in the Nordic environment, supporting driven entrepreneurs to take the next step in building their businesses. Together with the entrepreneurs, MVI can bring expertise in a variety of areas, to establish the next generation of Nordic companies.
