Harris Williams, a global investment bank specializing in
M&A advisory services, announces that it advised
LiveAuctioneers LLC (LiveAuctioneers), a portfolio company of
Bessemer Venture Partners (Bessemer) and Jason Finger, on its
controlling investment by Cove Hill Partners (Cove Hill).
LiveAuctioneers is an online live-auction source for fine and
decorative art, antiques, jewelry and vintage collectibles. The
transaction was led by Mike Wilkins, Erik Szyndlar, Brian
Titterington and Jay Petrie of Harris Williams’ Technology, Media
& Telecom (TMT) Group.
“LiveAuctioneers’ curated online marketplace and auction
technology solutions provide immense value to its customers,” said
Mike Wilkins, a managing director at Harris Williams. “By instantly
expanding the number of bidders participating in an auction,
LiveAuctioneers helps auction houses grow sales and improve
efficiency.”
“Over the past four years since Brian Feinstein of Bessemer and
Jason have been involved, the company re-architected its core
technology platform and made deep investments in building out its
team, greatly improving operations and creating a highly-scalable
business,” added Erik Szyndlar, a director at Harris Williams. “We
are proud to have worked with exceptional management on this
transaction and are excited to see the company continue to grow and
innovate.”
“Every member of our Harris Williams team provided world class
counsel on this transaction. Their analytical rigor sharpened our
thinking about our own business,” said Finger, former executive
chairman of LiveAuctioneers. “Harris Williams was a true strategic
partner that added tremendous value through both advice and
insights during every phase of the process.”
LiveAuctioneers digitally connects an audience of millions with
the live-bidding action at more than 5,000 premier auction houses
and galleries in 59 countries, providing an expertly curated,
globally trusted marketplace of exceptional items. LiveAuctioneers
is a leading, live online-auction source for fine and decorative
art, antiques, jewelry and vintage collectibles. A pioneer in
mobile-bidding technology, LiveAuctioneers opened new horizons for
bidders with its development of both an industry-leading app for
iOS (Apple) devices and the first live-auction bidding app for
Android.
Bessemer is one of the world's most experienced early-stage
venture capital firms. With a portfolio of more than 200 companies,
Bessemer helps visionary entrepreneurs lay strong foundations to
create companies that matter, and supports them through every stage
of their growth. The firm has backed more than 120 IPOs, including
Pinterest, Shopify, Yelp, LinkedIn, Skype, LifeLock, Twilio,
PagerDuty, SendGrid, DocuSign, Wix and MindBody. Bessemer's 15
investing partners operate from offices in Silicon Valley, San
Francisco, New York City, Boston, Israel and India.
Jason Finger was executive chairman of LiveAuctioneers and
co-founder and CEO of Seamless (NYSE:GRUB). He assists management
teams to accelerate growth, generally in connection with a majority
or minority investment. His portfolio includes Upper90.io,
Betterment, Bowery Farming, Clearbanc, Freshly, InvisionApp,
Procore, Slice, Stone Ridge Holdings, Thras.io, WeWork and
YipitData.
Cove Hill is a long-term-oriented private equity firm focused on
partnering with outstanding management teams to build
market-leading technology and consumer companies. The firm manages
a long-duration fund with over $1 billion of commitments from its
investors and founders. The firm was founded in 2017 by seasoned
private equity investors to invest their personal capital alongside
a small group of like-minded investors. Based in Boston, Cove Hill
has an innovative structure that provides the flexibility to enable
a patient, concentrated and value-added approach in a small
portfolio of long-term investments.
Harris Williams, an investment bank specializing in M&A
advisory services, advocates for sellers and buyers of companies
worldwide through critical milestones and provides thoughtful
advice during the lives of their businesses. By collaborating as
one firm across Industry Groups and geographies, the firm helps its
clients achieve outcomes that support their objectives and
strategically create value. Harris Williams is committed to
execution excellence and to building enduring, valued relationships
that are based on mutual trust. Harris Williams is a subsidiary of
the PNC Financial Services Group, Inc. (NYSE: PNC).
Harris Williams’ TMT Group advises leading private and public
companies, entrepreneurs, private equity firms and venture capital
firms on mergers and acquisitions and capital-raising transactions
worldwide. The TMT Group has deep domain expertise in the
Software/SaaS and Internet & Digital Media segments, with
particular emphasis on specific verticals including education
technology, data analytics, energy technology, fintech, public
sector, and supply chain/logistics—with a dedicated healthcare
technology (HCIT) practice. Across verticals, the firm also advises
technology services and networking solutions businesses. For more
information on the TMT Group and its recent transactions, visit the
TMT Group’s section of the Harris Williams website.
Harris Williams LLC is a registered broker-dealer and member of
FINRA and SIPC. Harris Williams & Co. Ltd is a private limited
company incorporated under English law with its registered office
at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered
with the Registrar of Companies for England and Wales (registration
number 07078852). Harris Williams & Co. Ltd is authorized and
regulated by the Financial Conduct Authority. Harris Williams &
Co. Corporate Finance Advisors GmbH is registered in the commercial
register of the local court of Frankfurt am Main, Germany, under
HRB 107540. The registered address is Bockenheimer Landstrasse
33-35, 60325 Frankfurt am Main, Germany (email address:
hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery
H. Perkins, Paul Poggi. (VAT No. awaited). Harris Williams is a
trade name under which Harris Williams LLC, Harris Williams &
Co. Ltd and Harris Williams & Co. Corporate Finance Advisors
GmbH conduct business.
For media inquiries, please contact Katie Langemeier, associate
brand manager, at +1 (804) 915-0179.
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version on businesswire.com: https://www.businesswire.com/news/home/20190524005353/en/
Katie Langemeier, associate brand manager+1 (804) 915-0179
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