Monday, April 2, 2007

SalvageSale Recapitalized By Private Equity Firm

Houston, Texas-based SalvageSale, an online marketplace and service provider for the insurance industry, said today that it has completed a recapitalization by private equity firm Spire Capital Partners. Terms were not disclosed. SalvageSale provides an online marketplace for commercial salvage and corporate end-of-life assets. The firm was originally backed by SwissRe and AmericanRe.