GoIndusty, an industrial machinery and equipment auctioneer, has acquired DoveBid, a US-based global provider of capital asset auction and valuation services, for £17 million.

GoIndusty, an industrial machinery and equipment auctioneer, has acquired DoveBid, a US-based global provider of capital asset auction and valuation services, for £17 million.

The acquisition complements GoIndustry’s existing operations and is expected to help it fulfill its strategy to build scalable and repeatable sources of equipment supply internationally.

Viadynamics conducted strategy and commercial due diligence for GoIndustry. The team, led by founder Chris Thompson, advised the board of directors on the fit, growth potential and the overall merit of the acquisition.

“Emphasis was placed on determining the strength of DoveBid’s corporate account business, segmenting the potential market and identifying scalable platforms to define a clear strategy for the combined group,” said Thompson.

PwC acted as reporting accountant to the acquirer.