HOUSTON – SalvageSale, an online marketplace and services provider for the insurance industry and corporate end-of-life assets, has completed a recapitalization with New York-based private equity firm Spire Capital Partners. Terms of the recapitalization were not disclosed.
In Spire Capital, the company has a partner to help develop new avenues for growth, secure additional resources to expand services, and grow the company via acquisition. Coupling SalvageSale's existing management team with Spire's seasoned financial and technological acumen will enable the company to greatly enhance its worldwide presence.
Spire Capital found SalvageSale to be an attractive investment because of its strong management team, pioneering business model and ability to deliver measurable value to a significant global network of buyers and sellers.