ECI Partners-backed online auction marketplace Auction Technology Group (ATG) has acquired German-headquartered Lot-tissimo.
Lot-tissimo works with over 250 auctioneers across Germany, France, Spain, Italy, Switzerland, Belgium, Netherlands and Austria. The business will add to ATG’s four online marketplaces which count a network of more than 1,350 auctioneers around the world.
The combined business will host around 18,000 auctions a year which will facilitate the sale of items with a value of over £2bn. ATG, which is focused on arts and antiques, has offices in the UK, US and now Germany.
ECI backed ATG in 2014 in a secondary management buyout which saw Mobeus Equity Partners re-invest in the business after a six-year hold.
UK mid-market investor ECI invests in growth companies valued between £20m and £150m with a focus on TMT, business and financial services and consumer sectors.
Earlier this year, the firm added three new members: Daniel Bailey from the Business Growth Fund, Isa Maidan from KPMG and Laura Morrill from PwC, which brings the ECI’s investment team headcount to 29.