TA Associates, a global growth private equity firm, acquired Auction Technology Group, an online platform for auctions across Europe and the United States, from ECI Partners, and Proxibid, an online marketplace for connecting buyers and sellers across North America, from Primus Capital.
Both ATG and Proxibid transactions closed on the 13th of February 2020.
The companies will be brought under the ATG umbrella with headquarters in London, but will retain substantial operations in Omaha, Nebraska, where Proxibid is headquartered.
As part of the transaction, ECI reinvested in the combined entity and now holds a minority stake. As part of this deal, Morgan Seigler, a Managing Director at TA Associates, Mr. Seigler and Mr. Stefan Dandl, a Senior Vice President at TA Associates, will join the ATG Board of Directors.
Led by John-Paul Savant, CEO, Auction Technology Group is a global technology company with over 140 employees, which facilitates 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.
Led by Ryan Downs, CEO, Proxibid is a platform for connecting buyers and sellers of highly valued items. Its Marketplace supports 16 categories, including heavy equipment, industrial machinery, real estate, fine art, antiques and collectibles, and more. The company’s PoweredBy solution enables sellers to integrate its marketplace technology into their websites, offering custom development and more to bring ecommerce solutions to companies across the globe. Since 2001, more than $45 billion in inventory has passed through Proxibid’s platform via live and timed auctions and buy now|make offer transactions.