Bonhams sold to private equity firm Epiris
Classic and collector car auctioneers Bonhams, responsible for flagship auctions at Goodwood, Monterey and Monaco has been sold to private equity firm Epiris
World leading auctioneers Bonhams, who handle prestigious collector car auctions at Goodwood, Monterey Car Week and Amelia Island among others has been sold to private equity group Epiris, for an undisclosed fee.
Espiris had made three previous investments in Bonhams, their latest round of buys making them outright owners.
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The company is led by chief executive officer Matthew Girling and chief financial officer Jonathan Fairhurst, as well as incoming executive chairman Bruno Vinciguerram, who was chief operating officer at rival auctioneer Sotheby's for eight years.
Bonhams' change of ownership is not a surprising move, as the business' sale was long on the roadmap for its chairman Robert Brooks.
'We've always had the intention one day to pass on the business to a new owner who shares our long-term vision for Bonhams. We would like to express our gratitude to Matthew Girling and the team, who have helped us transform the business into a truly global platform. I am immensely proud of what we have achieved at Bonhams and look forward to seeing the business continue to thrive under its new owners.'
Bonhams' portfolio of classic car auctions spans worldwide. It hosts sales at all three of Goodwood's crown jewel events – the Festival of Speed, Revival and Members' Meeting respectively – along with auctions during the Monterey Car Week and Amelia Island concours events, Rétromobile in Paris and prior to the Monaco Grand Prix.
'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,' said Girling.
'During the past 20 years we have pursued a growth strategy that has turned the company into a truly global organisation. The value of Bonhams rests with its people, their skills, their extraordinary expertise and their strong networks across the world.
'Epiris has a demonstrable and successful track record in investment in growing brands and we believe that together we can continue to expand the business whilst still offering the highest possible level of service wherever we operate.'
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