On September 4 it was announced that Bonhams had been acquired from private shareholders by Epiris Fund II, advised by Epiris LLP. Financial terms were not disclosed. Epiris LLP is a private equity firm.
Founded in 1793, Bonhams holds more than 250 sales a year at its salesrooms, including London, New York City, Los Angeles, and Hong Kong. In 2017 Bonhams sold more than 50,000 lots, generating over £450 million of hammer sales.
The company is led by CEO Matthew Girling and CFO Jonathan Fairhurst, who will be joined by Bruno Vinciguerra as executive chairman. Vinciguerra served for eight years as COO at Sotheby’s, and before that he held senior roles at Bain, Dell, and Disney.
Girling said in a press release, “We are delighted to have found a buyer that recognises the potential offered by this business and its employees. Bonhams is one of the world’s oldest auctioneers—and one of the most ambitious. During the past 20 years we have pursued a growth strategy that has turned the company into a truly global organisation.”
Vinciguerra said, “Bonhams is a business with great potential and a strong track record. I greatly look forward to working with the team to help deliver the next stage of growth.”
Robert Brooks, shareholder and chairman of Bonhams, said, “We have always had the intention one day to pass on the business to a new owner who shares our long-term vision for Bonhams.”
Originally published in the October 2018 issue of Maine Antique Digest. © 2018 Maine Antique Digest