ATG, Global Digital Marketplace Platform for Auction Industry, Welcomes Breon Corcoran as Chairman of the Board
London, England — February 16, 2021 Renovata & Company is pleased to announce the placement of Breon Corcoran as chairman of the board for Auction Technology Group (ATG), a global digital marketplace platform for the auction industry now preparing for its IPO. Corcoran will provide leadership during a pivotal time for the company, focusing on its medium- to long-term growth and success with new services, global expansion, and mergers and acquisitions.
ATG connects auction houses around the word to a global bidder base that generates more than 100M site visits per year. Selling everything from classic cars and fine art to heavy industrial equipment, ATG is leading the shift to online auctions—already driving more than 50 percent of new bidder traffic to auctioneers across its network. ATG operates five marketplaces on its digital platform. The platform is easy to operate and scale, and the business model generates fixed-fee as well as transactional revenue.
With TA Associates as its new investor, ATG aims to grow its business by expanding into new verticals and geographies, adding more large auction houses, and providing more value-added services. The company is working to make the site more user friendly, improve the use of data and the network, and pursue key merger and acquisition opportunities.
ATG has already transformed a traditional print media company into an online digital marketplace. They have more than quadrupled the technology development capabilities and profits over the past four years—and they have even more aggressive growth goals moving forward as a public company.
“Breon has led the scaling of transactional B2C digital businesses and has experience with marketplace business models including B2B components,” says Mannie Gill, Renovata & Company partner. “He understands how to scale a business organically by adopting industry best practices, and inorganically via mergers and acquisitions.”
Corcoran is chief executive officer of WorldRemit, an international online money transfer business backed by Accel, TCV and LeapFrog Investments. He is a non-executive director for the Tiley Group, an investment and wealth management business owned by the private equity firm Permira. Prior to that, he was chief executive officer of Paddy Power Betfair, a multichannel betting operator, where he previously served as chief operating officer. He launched his career in the financial industry, where most recently he was vice president, equity derivatives for JP Morgan.
About Renovata & Company
Renovata & Company is a global executive search and private equity advisory firm. We are trusted by financial sponsors, their portfolio companies and public corporations to deliver transformational leaders and valuable investment insights. Renovata & Company’s executive search activities are focused on the most complex search assignments—board-level mandates which include board directors, CEOs, CFOs and other C-suite executives, as well as investment professionals and Operating Partners—and we provide strategic counsel to clients across the technology, digital, business services, industrial, consumer and retail sectors. Renovata & Company has relationships with over 50 of the top 100 private and growth equity firms globally. Our private equity advisory services include diligence support, backable executive introductions and deal sourcing delivered by our affiliate, L Capital Advisors. We also make equity co-investments alongside our private equity clients through our investment affiliate, L Capital. We are privately held and operate from five offices across two continents: Boston, Hamburg, London, New York and San Francisco. www.renovata.com
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