Bonhams Auction House.
VIA WIKIMEDIA COMMONS
British private equity firm Epiris has purchased Bonhams auction house, which the Sunday Times reported was up for sale this past May.
Specifics on the financial terms have yet to be announced, but former Bonhams chairman Robert Brooks, who was one of the shareholders, stated, in a report by Antiques Trade Gazette, “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. 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 originally went up for sale in May of this year. As it stands today, Bonhams’s CEO, Matthew Girling, and CFO, Jonathan Fairhurst, will remain working at the auction house alongside former Sotheby’s COO Bruno Vinciguerra, who will act as executive chairman.
Bruno Vinciguerra stated in a release, “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.”
This article was written by cool news network.