Antiquorum Auctioneers has attracted a strategic capital investment from a Swiss institutional investment firm.
FIDES Business Partner identifies and invests in medium-sized companies with a revenue base of between CHF30-100million (£20.2-£67.2million), using the combined knowledge and expertise at its disposal to grow the business.
Evan Zimmermann, president and chief executive officer of Antiquorum, said: "We are delighted to start a partnership with FIDES Business Partner. Together with their knowledgeable and talented team of investors and advisors, we look forward to expanding our global reach and a successful future ahead.”
FIDES will immediately seek to ‘untap’ Antiquorum’s growth potential through a strategy that will place continuing emphasis on the auctioneer’s ‘exceptional timepieces, unmatched expertise and outstanding customer service’. The strategy will also seek to move Antiquorum in ‘new key’ markets around the globe.
The partnership marks FIDES most significant investment in the watch market with other recent partnerships in food, cosmetic and skincare, print and signage industries.
Giulio De Lucia, chief executive officer and co-founder of FIDES Business Partner, added: "Antiquorum offers very valuable assets including a strong historic brand; excellent expertise in modern and vintage timepieces; and an outstanding network of passionate collectors. FIDES is eager and proud to collaborate with Antiquorum to maximize its assets and secure its dominance as a unique and focused brand in the watch auction market. We greatly value Antiquorum’s entrepreneurial spirit and look forward to building upon its strengths by applying a focused growth strategy that will enhance the customer experience and result in a leading market position."