LONDON: Auction Technology Group plc (LON: ATG), a leading operator of curated online auction marketplaces, announced Monday the acquisition of Chairish LLC, a premier list-price marketplace for vintage furniture, décor, and art, in a deal valued at $85 million.
The acquisition marks a strategic expansion for ATG into the broader Arts & Antiques (A&A) market, enhancing its supply portfolio and extending its reach into consumer segments previously under-served by auction formats. Chairish, founded in 2013, connects over 4.1 million buyer and seller accounts annually and generated $51.2 million in unaudited revenue in 2024, primarily from the U.S. and Europe.
“This is a highly strategic addition to our Group,” said John-Paul Savant, CEO of Auction Technology Group. “Chairish’s 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.”
The acquisition is expected to deliver approximately $8 million in operational synergies by fiscal year 2027, with additional revenue synergies anticipated. ATG projects the transaction will positively impact adjusted EBITDA in FY26, be accretive to adjusted earnings per share in FY27, and generate a return on invested capital exceeding its weighted average cost of capital by FY28.
Chairish CEO Gregg Brockway welcomed the partnership, stating, “This is about amplifying what makes Chairish special—premium selection, sharp-eyed curation, and a passion for sustainability—while opening up new ways for our community to connect, shop, and sell.”
The acquisition will immediately add 1.3 million curated vintage and collectible items and 12,000 sellers to ATG’s existing network of 4,000 auctioneers. Monthly traffic is expected to grow significantly, with Chairish contributing 4.5 million visits to ATG’s current 25.5 million monthly A&A visits.
ATG will fund the acquisition through existing cash reserves and its Revolving Credit Facility (RCF). The company also announced a $75 million increase in borrowing capacity, raising its total committed RCF to $275 million.
Chairish’s unaudited adjusted EBITDA for 2024 was $(0.4) million, with gross assets totaling $18.4 million. Despite the modest EBITDA, ATG anticipates Chairish will achieve double-digit revenue growth and adjusted EBITDA margins of approximately 30% in the medium term.
ATG also reported improved revenue growth in Q3 compared to H1, driven by strong shipping revenue in the A&A segment. The company expects full-year margins to range between 42% and 43%, excluding the impact of the acquisition.