Jamieson is pleased to announce that it has advised John-Paul Savant, CEO, and the management team of Auction Technology Group, a leading online digital marketplace platform for auctions across Europe and the United States, on its acquisition by TA Associates from ECI Partners. ATG is headquartered in London.
As part of the transaction, Proxibid, an online marketplace for connecting buyers and sellers across North America, will be acquired and brought under the ATG umbrella. ECI reinvested in the combined entity and will hold a minority stake.
“The auction market is at a unique point in its evolution, benefiting on one hand from transformations in online selling technology and, on the other, from the growing trend for buyers to seek unique and second use items online,”
“Combining ATG and Proxibid will give us the resources to invest in better tools for auctioneers and accelerate investment in marketing, which we believe will bring a steady stream of new online bidders. The companies are a natural cultural fit, both valuing the provision of a professional experience for our auctioneer and bidder clients.”
John-Paul Savant, CEO
The Jamieson team of Tom Burton, Stephen Maxwell and Frans Robyns advised the Auction Technology Group management team on their reinvestment in the new structure as well as the terms of the new management equity incentive.