Funds advised by Permira Credit support Castik Capital’s acquisition of TBAuctions, Europe’s leading online auction house17 January 2022
17 January 2022 – Permira Credit, one of Europe’s leading alternative credit providers, today announces that funds it advises are acting as sole senior secured lender to Castik Capital’s acquisition of TBAuctions. The support highlights Permira Credit’s focus on high-quality, growing tech-enabled businesses and builds on Permira’s proven track record of investing in marketplace platforms.
Founded in 2018 after the merger of Troostwijk Auctions (B2B auctions) and BVA Auctions (B2C auctions), TBAuctions is a leading online auction platform and marketplace active in the Netherlands, Belgium and Germany. TBAuctions provides sellers with fast, transparent sales and buyers with access to competitive pricing, as well as value-added services, including valuation tools and services, storage services, bespoke online marketing campaigns and logistics and deliver solutions, which ensure it has a higher take rate than the competition. Having built strong relationships with a broad base of recurring sellers through established on-the-ground presence, the company has a solid foothold in both the industrial and consumer sectors.
Collectively, the Permira Credit funds have invested approximately €13bn since inception in a range of European debt products, including over €9bn in European direct lending. Permira Credit has supported more than 300 companies across its strategies since its establishment in 2007.