Écart Invest sells BVA to Bencis

Bencis and BVA's management have wholly acquired the business through the holding company Auctio, in which Bencis is taking a stake of around 70%.

Bencis/Auctio has also wholly acquired online auction house I-deal Overstock and will merge the two businesses. I-deal founder Evert Dorhout Mees has acquired a stake in Auctio and will become CEO of the newly merged group.

The two companies will continue to operate independently under separate brands.

Écart claims to have seen a ROI of 57.3% per year for its investment in BVA.

Dutch firm Écart, headquartered in The Hague, was founded in 1993. Its vehicle, Écart Invest 1, was originally established with €2.2m in capital. This has gradually increased to €24.8m through new stock issues and subscriptions from new investors.

Previous investment
Écart has held a minority stake in BVA since April 2009, when it took part in a management buyout of Nederlandse Taxatie en Adviesbureau (NTAB) alongside CEO Paul Blees. NTAB had created BVA in 2003.

Écart and Blees invested in NTAB through the holding company HNG Hoevelaken. The transaction took place without any bank financing.

Companies
Founded in 2003 and headquartered in Amersfoort, BVA auctions goods and real estate on behalf of banks, receivers, lease companies and corporations. It employs 150 staff.

Rotterdam-based I-deal was founded in 2006 and employs just three staff. The company sells surplus stock for "A-brand" manufacturers via closed B2B online auctions.

People
Evert Dorhout Mees is the CEO of new holding company Auctio.

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• Secondary buyout