H2 Equity Partners has sold Cadogan Tate to TSG Consumer Partners

Cadogan Tate

Founded in 1977, Cadogan Tate is a leading specialist in fine art and valuables storage and handling. It serves a large and growing customer base of high-net-worth families, art collectors, auction houses, interior designers, museums and galleries with six facilities strategically situated in the major art markets of London, Paris, New York, Los Angeles, Miami and Chicago.

The Deal

Since H2 Equity Partners acquired Cadogan Tate in 2018, the business has transformed its top line, materially increasing revenues and enhancing margins over the last 4 years. H2 introduced a new Chief Executive Officer, strengthened the finance function and empowered key leaders to drive growth in fine art storage. During H2’s ownership, Cadogan Tate undertook a series of site expansions and acquisitions to add scale, capability and deepen its presence in key markets like London, New York and Los Angeles. Today, the business generates the majority of its revenue in the United States.

In a tightly managed auction process, TSG Consumer Partners emerged as the preferred partner for management. TSG will support further market penetration in the United States and globally through organic growth, roll-out of new sites and acquisitions in this highly fragmented market.

Our Perspective

Edward Lethbridge, Managing Director and head of Lincoln’s UK Business Services Group commented, “Lincoln was able to use its sector knowledge and contacts together with a strong appreciation of Cadogan Tate’s unique market position to run a very successful process which attracted significant international interest. Cadogan Tate is an outstanding business and is well placed to consolidate the fine art storage and handling market for many years to come.”

H2 Equity Partners (UK) Cadogan Tate TSG Consumer Partners 2022
  • 2022
    Close Year
  • Business Services
    Industry
  • Private
    Client Type
  • Financial | Cross-border
    Transaction Type
  • USA | Netherlands | United Kingdom
    Countries
The Lincoln team made sure they understood the business and strong business model very well and provided excellent support in the sales process. The business was clearly positioned and, with Lincoln’s global reach, received strong levels of international interest to secure a good outcome for all.
Simon Gilbert
Senior Partner at H2 Equity Partners

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Any information or testimonials contained in this post may not be representative of the experience of other clients and is no guarantee of future performance or success.