Ropes & Gray Advises Epiris on Acquisition of Bonhams
Ropes & Gray has advised UK private equity firm Epiris on Epiris Fund II’s acquisition of Bonhams, the global auction house, from private shareholders.
The deal which announced today is the fourth investment of the Epiris Fund II. Bonhams is one of the world's largest and most renowned auctioneers of fine art and antiques, motor cars and jewellery. The business holds more than 250 sales a year at its flagship salerooms, which include London, New York, Los Angeles and Hong Kong. In 2017, Bonhams sold more than 60,000 lots, generating over £450 million of hammer sales. The acquisition of Bonhams is Epiris Fund II’s fourth investment.
The Ropes & Gray team was led by private equity partner Phil Sanderson with finance partners Malcolm Hitching and Alex Robb leading on the finance aspects of the deal. Other members of the team included private equity associates Electra Callan, Victoria McGrath and Laura Kayani and finance associate David Early in London.