Investment bank Mooreland Partners was the financial advisor to Proxibid on a growth equity investment from Primus Capital.
Proxibid’s online platform connects buyers and sellers across 15 categories that include heavy equipment; industrial machinery; real estate; fine art, antiques and collectibles; classic cars and more. Annually, approximately $3 billion in inventory passes through Proxibid via live and timed auctions, and “buy now” or “make an offer” transactions. Proxibid recently announced a partnership with eBay that will allow Proxibid’s inventory to be represented to eBay’s 157 million buyers. The company was founded in 2001 and is headquartered in Omaha, NE with offices in South Sioux City, NE and London, UK (www.proxibid.com).
“This transaction with Proxibid and Primus highlights Mooreland’s ability to help fast growing internet companies raise growth capital from sophisticated, value add investors,” said Peg Jackson, Managing Director of Mooreland Partners. “Proxibid is poised for rapid growth in the US and abroad due to its robust ecommerce product suite and fast growing customer base. Primus is an ideal financial partner for the business based on their experience scaling companies of this stage.”
Mooreland Partners is an investment bank providing M&A and private capital advisory services to the technology industry including internet and eCommerce companies. Mooreland’s team of about 50 banking professionals are active across all major technology sectors including communications technology, mobile and digital media, enterprise software and services, as well as industrial technology and electronics. Mooreland has offices in Silicon Valley, Greenwich, CT, and London (www.moorelandpartners.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 8-18-15