|[July 14, 2014]
Divvy LLC, a Proxibid Company, Acquires Online and Direct Sales Divisions from Value Recovery Services, LLC; Bolsters Reverse Supply Chain Electronics Business
OMAHA, Neb. --(Business Wire)--
Divvy, LLC (www.shopdivvy.com),
a Proxibid Company dedicated to providing consumers with high-quality
new and recertified consumer electronics, has acquired the online and
direct sales divisions from South Sioux City, NE-based Value Recovery
Services, LLC (VRS), which provides sophisticated reverse supply chain
and logistics services for personal computer and consumer electronics.
This acquisition brings together Proxibid's expertise in marketing and
marketplace reach with VRS' distribution and channel relationships to
create an end-to-end solution for reverse supply chain services for
personal computers and consumer electronics.
Divvy, a wholly-owned subsidiary of Proxibid, is an authorized dealer
for LG, Vizio, Acer, Gateway, Asus and Lenovo (News - Alert) products. All products
from Divvy partners have been factory recertified, which means defects
have been replaced, and products have been cleaned, tested and
repackaged for sale via Divvy's website, or through one of its channel
partners such as eBay (News - Alert), Amazon, Woot! and others. This new partnership
provides Divvy with a state-of-the-art distribution facility, and access
to strategic channel partnerships currently out of reach.
Under the agreement, Bob Burnett, VRS co-founder, will join the Proxibid
executive team as Senior Vice President of Reverse Supply Chain. VS
co-founder Keith Thomas will join Divvy as Vice President of Business
Development. Ten additional team members focused on customer service,
logistics and operations will join Proxibid, and will continue to work
at VRS' South Sioux City facility.
"Liquidating assets as part of the reverse supply chain is a key piece
of our future strategy," said Ryan Downs, President and CEO of Proxibid.
"This acquisition is key to moving the company forward and achieving the
goals we've set as an organization. We are thrilled with the expertise
and industry relationships Bob, Keith and the VRS team bring to Divvy."
VRS was founded in 2004 to bring a higher level of quality and customer
service to consumer electronics and personal computers in the reverse
supply chain. The company has maintained relationships with leading
manufacturers to gain access to exclusive merchandise and marketplace
intelligence other dealers are unable to provide.
"We are pleased to join the Divvy and Proxibid Families," said Bob
Burnett. "VRS' relationships, combined with Divvy's reach makes for a
powerful combination. Now we will be able to offer an even greater level
of service than others in the space - which our customers demand."
For more information about Divvy, please visit www.shopdivvy.com.
more information about Proxibid, please visit www.Proxibid.com.
more information about VRS, please visit www.valuerecoveryservices.com.
Proxibid provides asset owners of all sizes
and buyers with access to the world's most trusted online Marketplace
and selling solutions for excess inventory. More than $2 billion in
inventory passes through Proxibid's Marketplace annually in product
categories that include heavy equipment; commercial and industrial
equipment; real estate; fine art, antiques and collectibles and more.
Founded in 2001, Proxibid is headquartered in Omaha, NE with offices in
New York and London. For more information about Proxibid, please visit www.proxibid.com.
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