TSG Consumer Partners (TSG), a private equity firm, announced on 7 April that it has signed a definitive agreement to acquire a majority stake in Cadogan Tate Group Holdings. The transaction is expected to close in May following regulatory clearance.
As part of the transaction, Cadogan Tate management will continue to lead the company and retain a minority stake. Financial terms of the transaction were not disclosed.
Founded in 1977, Cadogan Tate specialises in fine art. The company’s customer base includes individuals, art galleries, museums, interior designers and auction houses. The company is based in London, and currently operates in London, Paris, Côte d’Azur, New York, Los Angeles, Miami and Chicago. It plans to expand and deepen its presence in existing markets through greenfield site development and acquisitions.
“Now is the perfect time to bring on a new growth partner and we couldn’t have found a better fit than TSG – a firm with an exceptional track record of growing consumer brands while supporting company values,” said Duncan Orange, CEO of Cadogan Tate. “We are eager to leverage their digital capabilities and expertise in developing brands internationally as we continue to grow our customer engagement.”
“We look forward to supporting Duncan and the management team in achieving its growth plans to expand into new geographies and deepen its presence in existing markets, through both organic growth and strategic acquisitions, all while maintaining its high-standard of handling every item with care,” Colin Welch, Managing Director and Head of New York and London Offices at TSG. “With an unmatched reputation, exceptional customer service and trust built over decades, Cadogan Tate is well-positioned for future growth.”
Beth Pickens, Managing Director at TSG, added, “Historically relying on word-of-mouth referrals, we are excited to leverage our significant experience in digital marketing to accelerate [Cadogan Tate’s] customer acquisition and add to its substantial new business pipeline.”