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Auction Technology Group acquires US-based marketplace
(Sharecast News) - Online marketplace operator Auction Technology Group said on Monday that it has acquired Chairish, a US-based marketplace for vintage furniture and art. The $85m acquisition, which was expected to broaden ATG's reach in the Arts & Antiques segment, adds 1.3m curated items and 12,000 sellers to its network, significantly expanding its inventory and buyer traffic.
ATG's board said the deal will unlock operational synergies of around $8m and offers further upside through cross-listing and marketing optimisation.
The FTSE 250-listed group expects the acquisition of Chairish, which generated $51m in revenue last year, to be EBITDA-positive in FY26 and accretive to earnings by FY27. Chairish sas forecast to deliver double-digit revenue growth and 30% EBITDA margins in the medium term.
ATG also added that the deal will be funded through existing cash and an expanded revolving credit facility, which now totals $275m.
Chief executive John-Paul Savant said: "Chairish is a highly strategic addition to our group as we continue to power the discovery of items worth finding again. Their strong brand, curated inventory, and loyal community enhance our position in the Arts & Antiques category and broaden our reach across high-intent buyers and quality sellers."
Reporting by Iain Gilbert at Sharecast.com
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