TA Associates Announces the Acquisitions of Auction Technology Group (“ATG”) from ECI Partners and Proxibid from Primus Capital
Summary
BOSTON & LONDON--(BUSINESS WIRE)--TA Associates, a leading global growth private equity firm, today announced the acquisitions of Auction Technology Group (“ATG”), a leading online platform for auctions across Europe and the United States, from ECI Partners (“ECI”), and Proxibid, an online marketplace for connecting buyers and sellers across North America, from Primus Capital (“Primus”). In collaboration with ECI, we will aim to expand the businesses through both organic and acquisitive growth, and accelerated international expansion.” As part of this transaction, Mr. Seigler and Mr. Stefan Dandl, a Senior Vice President at TA Associates, will join the ATG Board of Directors. ATGs platform powers live and timed auctions across multiple verticals including Art and Antiques, Classic Cars, Industrial & Commercial, and Consumer Retail Returns. Proxibid’s Marketplace supports 16 categories, including heavy equipment, industrial machinery, real estate, fine art, antiques and collectibles, and more. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies.