Gordon Brothers and Hilco Global APAC Partner to Disperse Late Model CAT Mining Fleet in South Africa
Date June 2, 2020
Gordon Brothers, the leading global advisory, investment, and restructuring firm, and leading asset valuation and disposal company Hilco Global APAC, have partnered to disperse a fleet of late model Caterpillar 100T-class mobile mining assets located in South Africa.
The partnership between the two prominent US-headquartered firms offers 25 late-model, low-hour Caterpillar mining machines for sale. The fleet includes D10T and D9T tracked dozers, a 992K wheeled loader, an 824K wheeled dozer, and 777E rigid haul dump trucks.
“We’re very excited about this collaboration as this is the first time both companies have partnered together in South Africa,” said Fenton Healy, Managing Director at Gordon Brothers. “Hilco and Gordon Brothers have had a good track record working together in North America to bring large fleets to market, so it made sense to leverage our combined capital to navigating our way through a new geography,” he added.
The fleet is primarily comprised of 2017-year models in good condition that had been repossessed. Hilco APAC and Gordon Brothers were assisted in the acquisition by DLA Piper in Johannesburg.
“Partnering with Gordon Brothers in Australia was ideal. The combination of both our skillsets ensured the best possible outcome for our customer,” said Adam Scharer, CEO of Hilco Global APAC. He added, “The deal combines our respective abilities to deploy capital alongside our combined global reach to ensure the project is successful for all stakeholders.”
Hilco APAC and Gordon Brothers in Australia are confident that prevailing conditions in key market segments will create a healthy demand for the sale of the mobile mining assets. Despite the impacts of the current pandemic, the secondary market for quality used mining and construction equipment remains strong. Initial interest has been encouraging, and both firms look forward to delivering a great result.
About Hilco Global APAC
Hilco Global APAC (www.hilcoapac.com) provides industrial asset acquisition and disposition services, specializing in machinery, equipment, and inventory auctions and negotiated sales. It sells the broad range of industrial assets found in manufacturing, wholesale, and distribution companies. Hilco Industrial buys and sells assets through on-site, online, and combination webcast auction sale events as well as negotiated (private treaty) sales. In addition to providing services on a fee or commission basis, Hilco Industrial puts capital at risk and often acquires assets or provides guarantees. Hilco Global APAC is part of Northbrook, Illinois-based Hilco Global (www.hilcoglobal.com), the world's leading authority on maximizing the value of business assets by delivering valuation, monetization, and advisory solutions to an international marketplace.
About Gordon Brothers
Since 1903, Gordon Brothers (www.gordonbrothers.com) has helped lenders, operating executives, advisors, and investors move forward through change. The firm brings a powerful combination of expertise and capital to clients, developing customized solutions on an integrated or standalone basis across four service areas: valuations, dispositions, operations, and investments. Whether to fuel growth or facilitate strategic consolidation, Gordon Brothers partners with companies in the retail, commercial, and industrial sectors to put assets to their highest and best use. Gordon Brothers conducts more than $70 billion worth of dispositions and appraisals annually. Gordon Brothers is headquartered in Boston with 25 offices across five continents.