Vaaka Partners to grab majority share in Huutokaupat.com

• The total number of auctions in the platform was at 320,000 in 2022
• Vaaka Partners is a private equity firm that invests in medium-sized Finnish firms
• The company is responsible for around €600m of funds

Vaaka Partners is set to acquire a majority stake in Finnish digital auction platform Huutokaupat.com.

Huutokaupat.com has one million monthly visitors and half a million registered customers. The platform offers machinery, equipment, tools, cars, and other merchandise mainly advertised by private companies and public sector entities.

The platform was established in 2005 and is headquartered in Helsinki. It employs around 80 people and the total number of auctions in 2022 stood at 320,000.

Vaaka invested in the platform because of its market standing, growth potential and business model, where the company bears the seller’s liability in auctions, a statement said.

“The service has a diverse advertiser base and high auction volumes, which show that the platform is an excellent sales channel,” said Petrus Blomqvist, partner at Vaaka Partners. “Huutokaupat.com is a trustworthy and responsible digital marketplace that also contributes to solving a major societal problem in advancing circular economy.”

Helsinki-headquartered Vaaka Partners is a private equity firm that invests in medium-sized Finnish companies. The company is responsible for around €600 million of private equity funds. Pension funds are the major investors in Vaaka funds.