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TA Associates acquires Auction Technology Group from ECI Partners and Proxibid from Primus Capital

Growth private equity firm TA Associates has 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 13 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. Both management teams are excited about the combination and believe that their collective resources will benefit auctioneers and bidders through increased technology investment and better auction results. As part of the transaction, ECI reinvested in the combined entity and now holds a minority stake. Financial terms of the transaction were not disclosed