Epiris, a British-based private equity group, has announced that Epiris Fund II has agreed to the acquisition of auction house Bonhams from private shareholders for an undisclosed sum.
Bonhams was founded in 1793, and is today one of the world’s largest auction houses, specializing in “art and antiques, motor cars and jewelry”. According to a press release, Bonhams four salerooms around the world hold more than 250 sales every year. In 2017, the auction house sold more than 50,000 lots, generating over £450 million ($580,605,750) in sales.
Matthew Girling, CEO of Bonhams, said the company is “delighted to have found a buyer that recognises the potential offered by” Bonhams, and that “Epiris has a demonstrable and successful track record in investment in growing brands”. Alex Fortescue, Managing Partner of Epiris, said: “We are thrilled to announce the acquisition of Bonhams, which is Epiris Fund II’s fourth investment […]”
