HOUSTON – AssetNation, Inc. acquired AssetAuctions LLC, a provider of asset recovery, appraisal, and inventory online auction services for the industrial, commercial, and government markets. AssetNation has some of the strongest brands in the online auction community, including SalvageSale, SalvageSale Ltd (UK), CapitalAssetSale, and now AssetAuctions and AssetAuctions de Mexico.
Shawn Allen and Scott Britton will continue to lead the AssetAuctions business segment as president and vice president, respectively.
AssetNation’s business model builds upon the foundation of its business segments SalvageSale and CapitalAssetSale. SalvageSale and SalvageSale Ltd support commercial property and casualty insurance companies by increasing recoveries on damaged commercial and industrial salvage. CapitalAssetSale helps companies turn surplus, idle and end-of-life industrial assets into new sources of cash. AssetAuctions broadens CapitalAssetSale’s corporate asset focus, offering online auctions, liquidations, private sales, corporate internal asset redeployment, and appraisal valuation services for industrial equipment and machinery, the company said.
The newly formed AssetNation will remain headquartered in Houston, Texas, and will have offices and employees in 13 U.S. cities: Pittsburgh, New York, Chicago, Detroit, St. Louis, Los Angeles, Phoenix, Tampa, Jacksonville, Ft. Myers, Columbus, and Austin, as well as internationally in Mexico City and London.