London’s Auction Technology Group acquired
Auction Technology Group has been acquired by a global growth private equity firm.
London’s ATG is an online platform for auctions across Europe and the United States.
Led by CEO John-Paul Savant, it employs more than 140 people and runs public auctions online across five digital marketplaces globally – thesaleroom.com, i-bidder.com, BidSpotter.com, BidSpotter.co.uk, and Lot-tissimo.com.
Its platform powers live and timed auctions across multiple verticals including art and antiques, classic cars, industrial & commercial, and consumer retail returns supporting more than 1,600 auctioneers in their businesses globally.
It has been snapped up from ECI Partners by TA Associates, which also moved to buy Proxibid, an online marketplace for connecting buyers and sellers across North America and based in Omaha, Nebraska.
The companies will be brought under the ATG umbrella with headquarters in London, but will retain substantial operations in Omaha.
As part of the transaction, ECI reinvested in the combined entity and now holds a minority stake.
As part of the deal Morgan Seigler, an MD at TA Associates, and Stefan Dandl, a Senior Vice President at TA Associates, will join the ATG board of directors.