A-Mark Precious Metals Inc., an El Segundo-based precious metals company, entered an agreement to acquire a 90% stake in AMS Holding LLC for $62 million. The deal includes $50 million in cash up front and an additional $12 million based on performance benchmarks and financial targets. It was one of several deals announced or closed by the firm recently.
On Feb. 28, the company completed its previously reported acquisition of Spectrum Group International Inc., the parent of Stack’s Bowers Galleries, a rare coin and currency auction house dealer specializing in numismatic and bullion products. On the same day, it closed the acquisition of the remaining 51% stake in Pinehurst Coin Exchange Inc. Pinehurst is one of the nation’s largest sellers of modern and numismatic coins on eBay.
“The collectibles business expands A-Mark’s footprint into the luxury market and brings several hundred thousand new customers into our ecosystem,” said A-Mark chief executive Greg Roberts, in a statement.
Information for this article was sourced from A-Mark Precious Metals Inc.