Automotive marketplace Grays Online has acquired fellow Perth-based merchant Gregsons Auctioneers & Valuers.
Grays said the 91-year-old Gregsons business was the industry leader in online auctions for heavy earthmoving, mining and plant equipment, and had unique nationwide asset valuation capabilities across both new and used equipment.
The purchase brings significant scale benefits, Grays said, with the company already receiving 2 million unique visitors each month.
The acquisition is due to complete on September 1.
Grays chief executive Chris Corbin said acquiring Gregsons would provide a larger vendor base to buyers in Western Australia.
“In addition, combining Gregsons valuation capabilities with Grays e-commerce technologies will provide a more holistic asset management offering for our combined customers,” he said.
Gregsons general manager and director Jack Gregson said he was excited to join Grays.
“The purchase will allow our existing team to provide a whole new level of capability to our buyers and sellers across the globe,” he said.
More to come...